Tex. Government Code § 1372.067
PRIORITY 5 CARRYFORWARD CLASSIFICATION
Texas · Texas Government Code · Status: effective
Cite this
- Citation
- Tex. Government Code § 1372.067, PRIORITY 5 CARRYFORWARD CLASSIFICATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/660485
- Permanent ID
ys:prov:660485@1- SHA-256
c475bec6c22d5f7ab3d2bdf3ee597655e5a560ca5c111cce8d9e77d27285b6d5
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The priority 5 carryforward classification applies to an issuer that:
(1) was created to act on behalf of this state or one or more political subdivisions of this state; and
(2) is applying for carryforward for a project:
(A) for which there has been an inducement resolution or other comparable preliminary approval; and
(B) with respect to which:
(i) a binding contract to incur significant expenditures for construction, reconstruction, or rehabilitation was entered into before submission of the application;
(ii) significant expenditures for construction, reconstruction, or rehabilitation were readily identifiable with and necessary to carry out a binding contract for the supply of property or services or the sale of output; or
(iii) significant expenditures were paid or incurred before submission of the application.
(b) In this section, "significant expenditures" means expenditures that are greater than the lesser of:
(1) $1 million; or
(2) 10 percent of the reasonably anticipated cost of the project.