§ 1372.024. INCREASE IN AMOUNT OF STATE CEILING AVAILABLE TO ISSUERS OF STATE-VOTED ISSUES.
TexasStatutes
Ask Donna
How this section applies to your facts.
TX Code › Code gv › Chapter 1372 › Section 1372.024
Text
(a) If, before January 2, applications received for reservations for state-voted issues total more than 10 percent of the available state ceiling for that program year, the percentage of state-voted ceiling requested that is more than 10 percent of the state ceiling:
(1) is removed from the state ceiling available to other issuers on January 2; and
(2) is available for those applications for reservations for state-voted issues.
(b) The amount removed under Subsection (a) may not exceed 10 percent of the state ceiling.
(c) The remaining portion of the state ceiling is available in accordance with Section 1372.022(a).
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.