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.
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 C. Carryforward of State Ceiling
Section 1372.061. Designation by Board of Certain Amounts of State Ceiling as Carryforward
Section 1372.062. Priority Classifications of Carryforward Designations
Section 1372.063. Priority 1 Carryforward Classification
Section 1372.064. Priority 2 Carryforward Classification
Section 1372.065. Priority 3 Carryforward Classification
Section 1372.066. Priority 4 Carryforward Classification
Section 1372.067. Priority 5 Carryforward Classification
Section 1372.068. Priority 6 Carryforward Classification
Section 1372.069. Application for Carryforward Designation; Limitations
Section 1372.070. Form and Contents of Application for Carryforward Application
Section 1372.071. Action on Application for Carryforward Designation
Section 1372.072. Amendment or Withdrawal of Application for Carryforward Designation
Section 1372.073. Designation by Board of Unencumbered State Ceiling