1372.025 – REALLOCATION OF STATE CEILING ON FAILURE OF
Texas Government Code § 1372.025
Summary
This law addresses the reallocation of the state ceiling for bonds that fail to qualify as tax-exempt obligations. It affects bond issuers who rely on tax-exempt status for financing, ensuring that unused allocations can be redistributed within the state.
Applies to bonds failing tax-exempt status by January 2.
State ceiling for those bonds is rendered ineffective for that year.
Unused allocations must be reallocated by March 1.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's REALLOCATION OF STATE CEILING ON FAILURE OF law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.