Sec. 1372.003. "CLOSING" IN CONNECTION WITH MORTGAGE CREDIT CERTIFICATES. The closing of mortgage credit certificates occurs on the date on which an issuer elects not to issue qualified mortgage bonds and to establish a mortgage credit certificate program under Section 25, Internal Revenue Code (26 U.S.C. Section 25).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle F - Specific Authority for State or Local Government to Issue Securities
Chapter 1372 - Private Activity Bonds and Certain Other Bonds
Subchapter A. General Provisions
Section 1372.003. "Closing" in Connection With Mortgage Credit Certificates
Section 1372.005. Delivery of Required Submissions to Board; Issuance of Receipts