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Texas Insurance Code - INS § 228.153. Investment in Strategic Investment Business Required

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

(a) In this section:

(1) “Strategic investment area” means an area of this state that qualifies as a strategic investment area under Subchapter O, Chapter 171, Tax Code,  1 or, after the date that subchapter expires, an area that qualified as a strategic investment area under that subchapter immediately before that date.

(2) “Strategic investment business” means a qualified business that:

(A) has the business's principal business operations located in one or more strategic investment areas;  and

(B) intends to maintain business operations in the strategic investment areas after receipt of the investment by the certified capital company.

(b) A certified capital company must place at least 30 percent of the amount of qualified investments required by Sections 228.151(a) and (b) in a strategic investment business.

1  V.T.C.A., Tax Code § 171.721 et seq.
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Cite this article: FindLaw.com - Texas Insurance Code - INS § 228.153. Investment in Strategic Investment Business Required - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-228-153/

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