1372.069 – APPLICATION FOR CARRYFORWARD DESIGNATION;
Texas Government Code § 1372.069
Summary
This law allows issuers to apply for a carryforward designation for tax-exempt bonds within a calendar year. However, once an application is made, the issuer cannot seek a reservation for the same project that year, and the carryforward amount is capped at either $50 million or 1.70% of the state ceiling, whichever is greater.
Issuers can apply for carryforward designations anytime in the year.
No subsequent reservations for the same project in the same year.
Carryforward amount is limited to $50 million or 1.70% of state ceiling.
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In simple terms: Learn about Texas's APPLICATION FOR CARRYFORWARD DESIGNATION; law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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