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Texas Government Code - GOV'T § 1372.064. Priority 2 Carryforward Classification

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1372.064. Priority 2 Carryforward Classification - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1372-064/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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