Texas Insurance Code - INS § 228.001. General Definitions

(1) “Allocation date” means the date on which certified investors are allocated premium tax credits.

(2) “Certified capital” means cash invested by a certified investor that fully funds the purchase price of an equity interest in a certified capital company or a qualified debt instrument issued by the company.

(3) “Certified capital company” means a partnership, corporation, or trust or limited liability company, whether organized on a profit or nonprofit basis, that:

(4) “Certified investor” means an insurer or other person that has state premium tax liability and that contributes certified capital pursuant to a premium tax credit allocation under this chapter.

(5) “Early stage business” means a business described by Section 228.152(a).

(5-a) “Low-income community” has the meaning assigned by Section 45D(e), Internal Revenue Code of 1986.

(6) “Person” means an individual or entity, including a corporation, general or limited partnership, or trust or limited liability company.

(7) “Premium tax credit allocation claim” means a claim for allocation of premium tax credits.

(7-a) “Program One” means the program for allocation and investment of certified capital under this chapter before January 1, 2007.

(7-b) “Program Two” means the program for allocation and investment of certified capital under this chapter on or after January 1, 2007.

(8) “Qualified business” means a business described by Section 228.201.

(9) “Qualified debt instrument” means a debt instrument issued by a certified capital company, at par value or a premium, that:

(10) “Qualified investment” means the investment of cash by a certified capital company in a qualified business for the purchase of any debt, debt participation, equity, or hybrid security of any nature or description, including a debt instrument or security that has the characteristics of debt but that provides for conversion into equity or equity participation instruments such as options or warrants.

(11) “State premium tax liability” means:

(12) “Strategic investment business” means a business described by Section 228.153(a).