reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.034. Order of Acceptance of Certain Applications for Reservation

Sec. 1372.034.  ORDER OF ACCEPTANCE OF CERTAIN APPLICATIONS FOR RESERVATION.  The board shall accept applications for a reservation submitted after October 20 in the order in which they are received.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.035. Granting of Reservations; Order

Sec. 1372.035.  GRANTING OF RESERVATIONS;  ORDER.  (a)  The board may not grant a reservation of a portion of the state ceiling for a program year before January 2 or after November 15 of that year.
(b)  Except as provided by Sections 1372.031-1372.033 and Subsection (c), the board shall grant reservations in the order in which the applications for those reservations are received, regardless of the amounts of the related bond issues.
(c)  If, with respect to an application, an issuer receives a carryforward designation under Section 1372.061(b), the board shall grant a reservation with respect to the issuer's next available application on the earlier of the following:
(1)  the date of receipt of notice from the issuer that the  application for which the issuer received the carryforward designation is being withdrawn; or
(2)  if the amount of the carryforward is sufficient to satisfy fully the issuer's next available application, the date of expiration of the period specified by Section 1372.042(a-1).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552), Sec. 10, eff. September 1, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 11, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.036. Reservations From Portion of State Ceiling Subsequently Becoming Available

Sec. 1372.036.  RESERVATIONS FROM PORTION OF STATE CEILING SUBSEQUENTLY BECOMING AVAILABLE.  (a)  If, before June 1, any portion of the state ceiling in a category described by Section 1372.022(a) from which issuers were granted reservations becomes available in that category:
(1)  those amounts of the state ceiling shall be aggregated;  and
(2)  the board shall grant reservations from that category on June 1.
(b)  Beginning June 1, partial reservations may be offered once to each applicant in each category described by Section 1372.022(a) until an applicant in the category accepts the partial reservation or until additional volume is returned in an amount sufficient to grant a full reservation.
(c)  After January 1, the board may grant a reservation to an issuer if the amount of state ceiling available in a category is greater than the amount of state ceiling applied for in that category.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 969, Sec. 6, eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 1329, Sec. 12, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.037. Limitations on Granting of Reservations for Individual Projects

Sec. 1372.037.  LIMITATIONS ON GRANTING OF RESERVATIONS FOR INDIVIDUAL PROJECTS.  (a)  Before August 15 the board may not grant for any single project a reservation for that year that is greater than:
(1)  if the issuer is an issuer of qualified mortgage bonds, other than the Texas Department of Housing and Community Affairs or the Texas State Affordable Housing Corporation, the greater of:
(A)  $50 million; or
(B)  1.70 percent of the available state ceiling;
(2)  if the issuer is an issuer of a state-voted issue, other than the Texas Higher Education Coordinating Board, the greater of:
(A)  $100 million; or
(B)  3.40 percent of the available state ceiling;
(3)  if the issuer of a state-voted issue is the Texas Higher Education Coordinating Board, the greater of:
(A)  $200 million; or
(B)  6.80 percent of the available state ceiling;
(4)  if the issuer is an issuer of qualified small issue bonds and enterprise zone facility bonds, the amount to which the Internal Revenue Code limits issuers of those bonds;
(5)  if the issuer is an issuer of qualified residential rental project bonds, the greater of:
(A)  $50 million; or
(B)  1.70 percent of the available state ceiling; or
(6)  if the issuer is any other issuer of bonds that require an allocation, the greater of:
(A)  $100 million; or
(B)  3.40 percent of the available state ceiling.
(b)  This subsection applies only to projects that are granted a reservation of a portion of the available state ceiling for a program year under Subsection (a)(5).  If for a program year the total amount of qualified residential rental project bonds for which reservations are sought exceeds, as of October 20 of the preceding year, 55.75 percent of the state ceiling, the amount of bonds issued to each project may not exceed 55 percent of the reasonably expected aggregate basis of the project and the land on which the project is or will be located.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 1329, Sec. 13, eff. Sept. 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 600 (H.B. 1901), Sec. 1, eff. June 17, 2005.
Acts 2007, 80th Leg., R.S., Ch. 544 (S.B. 1185), Sec. 5, eff. September 1, 2007.
Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552), Sec. 11, eff. September 1, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 12, eff. June 19, 2009.
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 13, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 21(3), eff. September 1, 2019.
Acts 2023, 88th Leg., R.S., Ch. 1006 (H.B. 1766), Sec. 4, eff. June 18, 2023.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.038. Reservation Date

Sec. 1372.038.  RESERVATION DATE.  The reservation date for an issue is the date on which the board notifies an issuer whose application for the reservation has been accepted for filing by the board that a portion of the state ceiling is available to that issue.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.039. Certification Required of Issuer; Cancellation on Failure

Sec. 1372.039.  CERTIFICATION REQUIRED OF ISSUER;  CANCELLATION ON FAILURE.  (a)  Not later than the 35th day after an issuer's reservation date, the issuer shall submit to the board:
(1)  a certificate signed by an authorized representative of the issuer that certifies the principal amount of the bonds to be issued;  and
(2)  a list of finance team members and their addresses and telephone numbers.
(b)  If the principal amount certified by the issuer is less than the amount stated in the issuer's application for the reservation, the amount of the issuer's reservation is reduced to the amount certified.
(c)  If an issuer does not submit the documents as required by this section and the fee as required by Section 1372.006(d)(1):
(1)  the reservation is canceled;  and
(2)  from the reservation date of the canceled reservation until the expiration of the applicable period described by Section 1372.042(a) or (b):
(A)  no issuer may submit an application for a reservation for the same project;  and
(B)  the issuer is eligible for a carryforward designation for the project only as provided by Subchapter C.
(d)  If an issuer does not submit the documents during the period provided by Subsection (a), the issuer may submit the documents not later than the third day after the end of the 35-day period together with a statement and evidence regarding extenuating circumstances that prevented a timely filing.  The board shall review the statement and the evidence and may, based on the statement and evidence, permit the late filing.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 1329, Sec. 14, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.040. Reservation by Certain Issuers of Qualified Mortgage Bonds of Money for Mortgages for Certain Persons

Sec. 1372.040.  RESERVATION BY CERTAIN ISSUERS OF QUALIFIED MORTGAGE BONDS OF MONEY FOR MORTGAGES FOR CERTAIN PERSONS.  An issuer of qualified mortgage bonds, other than the Texas Department of Housing and Community Affairs or the Texas State Affordable Housing Corporation, shall reserve for six months 50 percent of the funds available for loans outside the federally designated target areas to provide mortgages to individuals and families with incomes below 80 percent of the applicable median family income, as defined by Section 143(f)(4), Internal Revenue Code (26 U.S.C. Section 143(f)(4)).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2003, 78th Leg., ch. 969, Sec. 7, eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 1329, Sec. 15, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.041. Refusal to Accept Reservation by Issuer

Sec. 1372.041.  REFUSAL TO ACCEPT RESERVATION BY ISSUER.  (a)  An issuer may:
(1)  refuse to accept a reservation if the amount of state ceiling available is less than the amount for which the issuer applied;  or
(2)  refuse to accept a reservation for any amount if the reservation is granted after September 23.
(b)  The amount of available state ceiling is subject to the grant of a reservation to each succeeding issuer eligible to be granted a reservation of that available state ceiling in the order of priority under this subchapter.
(c)  An issuer's refusal to accept a reservation does not affect the issuer's order of priority for a subsequent grant of a reservation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.043. Cancellation of Reservation on Issuer's Failure to Timely Close on Bonds

Sec. 1372.043.  CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS.  If an issuer does not close on the issuer's bonds as required by Section 1372.042:
(1)  the reservation for the issue is canceled; and
(2)  for the period beginning on the reservation date and ending on the 150th day, the 180th day, or the 210th day after the reservation date, as applicable under Section 1372.042, or on the 210th day after the reservation date if the issuer is an issuer of qualified mortgage bonds:
(A)  no issuer may submit an application for a reservation for the same project; and
(B)  the issuer is eligible for a carryforward designation for the project only as provided by Subchapter C.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 15, eff. September 1, 2019.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.044. Assignment of Reservation

Sec. 1372.044.  ASSIGNMENT OF RESERVATION.  A reservation may be assigned only between a governmental unit and an issuer that is authorized to issue private activity bonds on behalf of that governmental unit.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter B. Allocation and Reservation of State Ceiling › Section 1372.045. Reservation, Allocation, and Carryforward Designation by Board of Additional State Ceiling

Sec. 1372.045.  RESERVATION, ALLOCATION, AND CARRYFORWARD DESIGNATION BY BOARD OF ADDITIONAL STATE CEILING.  (a)  The board is authorized to establish and administer programs for the reservation, allocation, and carryforward designation of additional state ceiling in accordance with the federal law that establishes the additional state ceiling and, to the extent consistent with the federal law, as the board determines will achieve the purposes for which the additional state ceiling is authorized by federal law.
(b)  The board may adopt rules and procedures the board considers necessary to effectively administer programs authorized under this section.
(c)  The board may prescribe forms and applications as needed to effectively implement and administer programs authorized under this section.
(d)  The board may adopt emergency rules in connection with the programs authorized under this section when the board determines that the emergency rules are necessary for the state to obtain the full benefits of the additional state ceiling.
Added by Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 14, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.061. Designation by Board of Certain Amounts of State Ceiling as Carryforward

Sec. 1372.061.  DESIGNATION BY BOARD OF CERTAIN AMOUNTS OF STATE CEILING AS CARRYFORWARD.  (a)  The board may designate as carryforward:
(1)  the amount of the state ceiling that is not reserved before December 15;  and
(2)  any amount of the state ceiling that:
(A)  was reserved before December 15;  and
(B)  becomes available on or after that date because of the cancellation of a reservation.
(b)  The board shall designate as carryforward:
(1)  a reservation amount for which the board receives written notice from an issuer of an election to carry forward the reservation under Section 1372.042(c) if the bonds relating to the reservation are not required to close by December 31 of the year in which the reservation was granted; or
(2)  an amount previously designated as carryforward under Subsection (a) for which the board receives written notice from an issuer of an election to reassign the carryforward designation under Section 1372.074.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 10.10, eff. Sept. 1, 2001.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 969 (S.B. 1984), Sec. 1, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.062. Priority Classifications of Carryforward Designations

Sec. 1372.062.  PRIORITY CLASSIFICATIONS OF CARRYFORWARD DESIGNATIONS.  (a)  The board shall:
(1)  designate amounts as carryforward in accordance with the system of priority classifications specified in Sections 1372.063-1372.068;  and
(2)  in each classification, make the designations in order of the application for those designations.
(b)  Notwithstanding Subsection (a), the board shall designate in compliance with the requirements of Section 146(f), Internal Revenue Code of 1986, a carryforward relating to an issuer's written election under Section 1372.042(c) according to the category of bonds to which the reservation subject to the carryforward relates.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.  Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 10.10, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.063. Priority 1 Carryforward Classification

Sec. 1372.063.  PRIORITY 1 CARRYFORWARD CLASSIFICATION.  The priority 1 carryforward classification applies to:
(1)  an issuer of a state-voted issue; and
(2)  a state agency, other than an issuer of a state-voted issue, that applies for a carryforward designation for a project that:
(A)  is described by Section 1372.067(a)(2); and
(B)  the Texas Economic Development and Tourism Office determines meets the governor's criteria for funding from the Texas Enterprise Fund.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 9, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.064. Priority 2 Carryforward Classification

Sec. 1372.064.  PRIORITY 2 CARRYFORWARD CLASSIFICATION.  The priority 2 carryforward classification applies to an issuer of bonds approved by the voters of a political subdivision of this state if:
(1)  the bonds will be private activity bonds for which an allocation will be required for the bonds to be tax exempt under the Internal Revenue Code;  or
(2)  the excess private use of a governmental bond will require allocation so that the bond may retain its tax exempt status under the Internal Revenue Code.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.065. Priority 3 Carryforward Classification

Sec. 1372.065.  PRIORITY 3 CARRYFORWARD CLASSIFICATION.  The priority 3 carryforward classification applies to:
(1)  a state agency, other than an issuer of a state-voted issue;  and
(2)  a political subdivision whose board of directors holds office under Section 30a, Article XVI, Texas Constitution.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.066. Priority 4 Carryforward Classification

Sec. 1372.066.  PRIORITY 4 CARRYFORWARD CLASSIFICATION.  (a)  The priority 4 carryforward classification applies to any political subdivision:
(1)  that is authorized to issue bonds;  and
(2)  to which priority carryforward classifications 1-3 do not apply.
(b)  A project that is the subject of an application for a priority 4 carryforward classification must be owned by a governmental unit in accordance with applicable provisions of the Internal Revenue Code.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.067. Priority 5 Carryforward Classification

Sec. 1372.067.  PRIORITY 5 CARRYFORWARD CLASSIFICATION.  (a)  The priority 5 carryforward classification applies to an issuer that:
(1)  was created to act on behalf of this state or one or more political subdivisions of this state;  and
(2)  is applying for carryforward for a project:
(A)  for which there has been an inducement resolution or other comparable preliminary approval;  and
(B)  with respect to which:
(i)  a binding contract to incur significant expenditures for construction, reconstruction, or rehabilitation was entered into before submission of the application;
(ii)  significant expenditures for construction, reconstruction, or rehabilitation were readily identifiable with and necessary to carry out a binding contract for the supply of property or services or the sale of output;  or
(iii)  significant expenditures were paid or incurred before submission of the application.
(b)  In this section, "significant expenditures" means expenditures that are greater than the lesser of:
(1)  $1 million;  or
(2)  10 percent of the reasonably anticipated cost of the project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.068. Priority 6 Carryforward Classification

Sec. 1372.068.  PRIORITY 6 CARRYFORWARD CLASSIFICATION.  The priority 6 carryforward classification applies to an issuer that:
(1)  was created to act on behalf of this state or one or more political subdivisions of this state;  and
(2)  is applying for carryforward for a project that is not eligible for another priority carryforward classification.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.069. Application for Carryforward Designation; Limitations

Sec. 1372.069.  APPLICATION FOR CARRYFORWARD DESIGNATION;  LIMITATIONS.  (a)  An issuer may apply for a carryforward designation at any time during the year in which the designation is sought.
(b)  An issuer that applies for a carryforward designation may not apply later in the same year for a reservation for the same project.
(c)  An issuer may apply for the carryforward designation of an amount that is not more than the greater of:
(1)  $50 million; or
(2)  1.70 percent of the available state ceiling.
(d)  The board by rule shall prevent an issuer from applying for a carryforward designation in an amount that is greater than the amount needed.
(e)  A carryforward designation granted under this section must comply with the Internal Revenue Code of 1986.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 16, eff. September 1, 2019.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.070. Form and Contents of Application for Carryforward Application

Sec. 1372.070.  FORM AND CONTENTS OF APPLICATION FOR CARRYFORWARD APPLICATION.  An application for a carryforward designation must:
(1)  be on a form prescribed by the board;
(2)  be signed by a member or officer of the issuer and by  the governor, if the issuer was created to act on behalf of this state;
(3)  state the amount of carryforward sought;
(4)  describe the project;
(5)  state which priority classification is applicable to the applicant;
(6)  include evidence satisfactory to the board that that priority classification is correct; and
(7)  contain any other information that the board by rule requires.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552), Sec. 12, eff. September 1, 2007.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.071. Action on Application for Carryforward Designation

Sec. 1372.071.  ACTION ON APPLICATION FOR CARRYFORWARD DESIGNATION.  On receipt of an application for a carryforward designation, the board shall:
(1)  determine whether the application complies with the requirements of this chapter and board rules;  and
(2)  note its determination on the application.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.072. Amendment or Withdrawal of Application for Carryforward Designation

Sec. 1372.072.  AMENDMENT OR WITHDRAWAL OF APPLICATION FOR CARRYFORWARD DESIGNATION.  (a)  An issuer may amend or withdraw an application for a carryforward designation by submitting to the board a notice of the amendment or withdrawal.
(b)  If an application is amended, the application's place in the order of eligibility for a carryforward designation in a priority classification is determined using the date of the amendment instead of the date of the original application.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.073. Designation by Board of Unencumbered State Ceiling

Sec. 1372.073.  DESIGNATION BY BOARD OF UNENCUMBERED STATE CEILING.  Notwithstanding any other provision of this chapter, the board on the last business day of the year may assign as carryforward to a state agency or to an issuer that was created to act on behalf of this state at the request of the issuer and in the order received any state ceiling that is not reserved or designated as carryforward and for which no application for carryforward is pending.
Added by Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 15, eff. June 19, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 17, eff. September 1, 2019.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter C. Carryforward of State Ceiling › Section 1372.074. Reassignment of Carryforward Designation

Sec. 1372.074.  REASSIGNMENT OF CARRYFORWARD DESIGNATION.
(a)  After one year from the initial carryforward designation, an issuer may elect to reassign all or part of the carryforward designation in accordance with Section 1372.061(b) to the issuer's next available application for a project if the issuer provides:
(1)   a written withdrawal request signed by an authorized representative of the issuer;
(2)  the issuing board resolution authorizing the carryforward designation reassignment with an original signature by an officer of the issuer;
(3)  applicable fees under Section 1372.006;
(4)  an opinion of legal counsel stating that the carryforward designation reassignment does not conflict with Section 146, Internal Revenue Code of 1986; and
(5)  any other information required by the board.
(b)  A project that is reassigned a carryforward designation under this section must close within the time period allowed by the Internal Revenue Code of 1986.
(c)  An unutilized carryforward designation available after a project closes on a carryforward designation under Section 1372.069 may be used by the issuer for other projects subject to Subsection (b) and Section 1372.061(b).
Added by Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 18, eff. September 1, 2019.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 969 (S.B. 1984), Sec. 2, eff. September 1, 2021.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter D. Allocation of Miscellaneous Bond Ceiling › Section 1372.101. Program Administration

Sec. 1372.101.  PROGRAM ADMINISTRATION.  (a)  The applicable official may designate bonds as entitled to a portion of a miscellaneous bond ceiling or allocate a portion of a miscellaneous bond ceiling to an issuer of bonds:
(1)  in accordance with the federal law that establishes the federal subsidy for which the miscellaneous bond ceiling is established; and
(2)  to the extent consistent with the federal law, as the applicable official determines will achieve the purposes for which the federal subsidy is authorized by federal law.
(b)  The board is authorized to administer programs established by the applicable official for the allocation of a miscellaneous bond ceiling or the designation of bonds entitled to the federal subsidy limited by a miscellaneous bond ceiling.
Added by Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 16, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter D. Allocation of Miscellaneous Bond Ceiling › Section 1372.102. Rules and Procedures

Sec. 1372.102.  RULES AND PROCEDURES.  (a)  Unless otherwise provided by law, the board may adopt rules and procedures the board considers necessary to effectively administer programs established by the applicable official for allocation of a miscellaneous bond ceiling or for designating bonds as entitled to the federal subsidy limited by the miscellaneous bond ceiling.
(b)  The board may adopt emergency rules in connection with the programs described in Subsection (a) when the board determines that the emergency rules are necessary for the state to obtain the full benefits of the federal subsidy that is limited by the miscellaneous bond ceiling.
(c)  The board may prescribe forms and applications as needed to effectively implement and administer programs described in Subsection (a).
(d)  This section does not prevent an applicable official from adopting rules and procedures in connection with the allocations and designations when required by federal or state law or from administering a program independently of the board.
Added by Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 16, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle F - Specific Authority for State or Local Government to Issue Securities › Chapter 1372 - Private Activity Bonds and Certain Other Bonds › Subchapter D. Allocation of Miscellaneous Bond Ceiling › Section 1372.103. Application Fees

Sec. 1372.103.  APPLICATION FEES.  In connection with programs established by the applicable official for the allocation of a miscellaneous bond ceiling or the designation of bonds entitled to the federal subsidy limited by a miscellaneous bond ceiling, the board may charge an application fee for each application it receives under this subchapter.
Added by Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 16, eff. June 19, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter A. General Provisions › Section 1401.001. Definitions

Sec. 1401.001.  DEFINITIONS.  In this chapter:
(1)  "Authority" means the Texas Public Finance Authority.
(2)  "Board" means the board of directors of the authority.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter A. General Provisions › Section 1401.002. Bond Review Board Member Immunity

Sec. 1401.002.  BOND REVIEW BOARD MEMBER IMMUNITY.  A Bond Review Board member is not liable for damages that result from performing a function of the member under this chapter.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter A. General Provisions › Section 1401.003. Legislative Authority

Sec. 1401.003.  LEGISLATIVE AUTHORITY.  The authority may not issue or sell a bond under this chapter for a project unless the legislature has authorized the specific project by:
(1)  this chapter;
(2)  the General Appropriations Act;  or
(3)  Chapter 1232.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter B. Bond Review Board Oversight › Section 1401.021. Bond Review Board Approval of Bond Issuance

Sec. 1401.021.  BOND REVIEW BOARD APPROVAL OF BOND ISSUANCE.  The authority may not issue a bond under this chapter unless the Bond Review Board has reviewed and approved the issuance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter B. Bond Review Board Oversight › Section 1401.022. Bond Review Board Approval of Project

Sec. 1401.022.  BOND REVIEW BOARD APPROVAL OF PROJECT.  The proceeds of a bond issued under this chapter may not be used to finance a project unless the Bond Review Board has reviewed and approved the project.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter C. General Obligation Bonds and Proceeds › Section 1401.042. Refunding Bonds

Sec. 1401.042.  REFUNDING BONDS.  The authority may issue a general obligation bond authorized under Section 1401.041 to refund a revenue bond issued under Subchapter D.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter C. General Obligation Bonds and Proceeds › Section 1401.043. Refinancing Certain Obligations

Sec. 1401.043.  REFINANCING CERTAIN OBLIGATIONS.  (a)  The proceeds of a bond issued under Section 1401.041(a), (b), (c)(1), or (d) may be used to refinance an existing obligation for a purpose described by those subsections.
(b)  The proceeds of a bond issued under Section 1401.041(c)(2) may be used to refinance an existing obligation for a purpose described by that subdivision.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter C. General Obligation Bonds and Proceeds › Section 1401.044. Distribution of Proceeds

Sec. 1401.044.  DISTRIBUTION OF PROCEEDS.  The authority by rule shall establish guidelines, criteria, and procedures for distributions of general obligation bond proceeds.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter C. General Obligation Bonds and Proceeds › Section 1401.045. Interest and Sinking Fund Balance Report

Sec. 1401.045.  INTEREST AND SINKING FUND BALANCE REPORT.  (a)  The authority shall report to the Legislative Budget Board and the Governor's Office of Budget and Planning an accurate estimate of interest and sinking fund balances available for payment of debt service on general obligation bonds.
(b)  The report must be made not later than January 1 of each odd-numbered year.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter D. Revenue Bonds and Proceeds › Section 1401.061. Revenue Bonds

Sec. 1401.061.  REVENUE BONDS.  (a)  The authority may:
(1)  issue revenue bonds; and
(2)  distribute the bond proceeds to any appropriate agency to:
(A)  acquire, construct, or equip a new facility; or
(B)  make a major repair of or renovate a:
(i)  facility;
(ii)  corrections institution, including a facility authorized by Section 495.001(a) or 495.021(a);
(iii)  criminal justice facility for the Texas Department of Criminal Justice;
(iv)  youth corrections institution; or
(v)  mental health institution or intellectual disability institution.
(b)  The bond proceeds may be used to refinance an existing obligation for a purpose described by Subsection (a).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2023, 88th Leg., R.S., Ch. 30 (H.B. 446), Sec. 5.23, eff. September 1, 2023.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter D. Revenue Bonds and Proceeds › Section 1401.062. Revenue Bond Proceeds

Sec. 1401.062.  REVENUE BOND PROCEEDS.  On issuing bonds under Section 1401.061, the board shall:
(1)  certify to the appropriate agency and to the comptroller that the funds are available;  and
(2)  deposit the bond proceeds in the state treasury to the account of the appropriate agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter D. Revenue Bonds and Proceeds › Section 1401.063. Investment of Proceeds

Sec. 1401.063.  INVESTMENT OF PROCEEDS.  (a)  With the board's concurrence, the comptroller shall invest the unexpended revenue bond proceeds and the investment income of those unexpended proceeds in investments approved by law for the investment of state funds.
(b)  The investment income required for project costs, and not required to be rebated to the federal government or used for debt service, as determined by the board, shall be credited to the appropriate agency.  The investment income not required for project costs, not required to be rebated to the federal government, and not required for debt service shall be allocated as provided by Section 404.071.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter D. Revenue Bonds and Proceeds › Section 1401.064. Payment of Principal or Interest

Sec. 1401.064.  PAYMENT OF PRINCIPAL OR INTEREST.  The board may provide that the principal of and interest on revenue bonds issued under this subchapter be paid from any source of funds lawfully available to the board.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter D. Revenue Bonds and Proceeds › Section 1401.065. Bond Requirements

Sec. 1401.065.  BOND REQUIREMENTS.  Revenue bonds issued under this subchapter are subject to Sections 1232.117 and 1232.118.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter E. Revenue Bond Projects › Section 1401.081. Conditions for Beginning Project

Sec. 1401.081.  CONDITIONS FOR BEGINNING PROJECT.  The appropriate agency may begin an approved project financed under Subchapter D  after:
(1)  the authority has certified that the authority has authorized obligations in an amount sufficient to pay the construction or purchase price of the project under an interim construction finance agreement established by the authority in accordance with Chapter 1371;  or
(2)  the following conditions are met:
(A)  the revenue bond proceeds are deposited;
(B)  the comptroller has certified that the funds are available;
(C)  any reserve funds or capitalized interest certified to be reasonably required by the authority has been transferred;  and
(D)  according to the authority's statement that specifies those costs, the costs of issuance of the bonds have been paid.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter E. Revenue Bond Projects › Section 1401.082. Revenue Bond Repayment and Lease Agreement

Sec. 1401.082.  REVENUE BOND REPAYMENT AND LEASE AGREEMENT.  (a)  In accordance with a lease agreement, the appropriate agency, with money appropriated for the purpose, shall pay to the board an amount the board determines to be sufficient to:
(1)  pay the principal of and interest on the bonds issued under Section 1401.061;
(2)  maintain a reserve fund necessary to service the debt;  and
(3)  reimburse the authority for other costs and expenses relating to:
(A)  a project;  or
(B)  the outstanding bonds.
(b)  For purposes of this section, a state agency may enter into a lease agreement in the name of and on behalf of the state.
(c)  A state agency shall include in its biennial appropriation request an amount sufficient to pay the principal of and interest on outstanding bonds issued under Section 1401.061 for the agency.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter E. Revenue Bond Projects › Section 1401.083. Rights to Financed Property

Sec. 1401.083.  RIGHTS TO FINANCED PROPERTY.  (a)  Property financed by the authority under Subchapter D  does not become part of other property to which it is attached or affixed or into which it is incorporated, regardless of whether the other property is real or personal.
(b)  A state agency has the rights of a lessee in property financed by the authority under Subchapter D. A person who claims under or through the agency may not acquire any greater rights with respect to the property.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter F. Financial Provisions › Section 1401.101. Exemption From Taxation

Sec. 1401.101.  EXEMPTION FROM TAXATION.  A bond issued under this chapter, any transaction related to the bond, and profits made in the sale of the bond are exempt from taxation by this state, a state agency, or a municipality or other political subdivision of this state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1401 - Bonds for Certain Criminal Justice, Mental Health, or Intellectual Disability Facilities › Subchapter G. Miscellaneous Provisions › Section 1401.121. Texas Department of Criminal Justice Master Plan

Sec. 1401.121.  TEXAS DEPARTMENT OF CRIMINAL JUSTICE MASTER PLAN.  (a)  Unless the Texas Department of Criminal Justice has submitted to the Bond Review Board a master plan for the construction of corrections facilities, the proceeds of bonds issued under this chapter may not be:
(1)  distributed to the department; or
(2)  used to finance a project of the correctional institutions division of the department.
(b)  The master plan must:
(1)  be in the form, contain the information, and cover the period prescribed by the Bond Review Board;  and
(2)  be revised annually.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 25.086, eff. September 1, 2009.
2023 Texas Statutes › Government Code › Title 9 - Public Securities › Subtitle G - Specific Authority for State Government to Issue Securities › Chapter 1403 - General Obligation Bonds for Certain Border Colonia Projects › Section 1403.001. Definitions

Sec. 1403.001.  DEFINITIONS.  In this chapter:
(1)  "Authority" means the Texas Public Finance Authority.
(2)  "Commission" means the Texas Transportation Commission.
Added by Acts 2001, 77th Leg., ch. 950, Sec. 1, eff. Nov. 6, 2001.