Sec. 1372.037. LIMITATIONS ON GRANTING OF RESERVATIONS FOR INDIVIDUAL PROJECTS. (a) Before August 15 the board may not grant for any single project a reservation for that year that is greater than:

(1) if the issuer is an issuer of qualified mortgage bonds, other than the Texas Department of Housing and Community Affairs or the Texas State Affordable Housing Corporation, the greater of:

(A) $50 million; or

(B) 1.70 percent of the available state ceiling;

(2) if the issuer is an issuer of a state-voted issue, other than the Texas Higher Education Coordinating Board, the greater of:

(A) $100 million; or

(B) 3.40 percent of the available state ceiling;

(3) if the issuer of a state-voted issue is the Texas Higher Education Coordinating Board, the greater of:

(A) $200 million; or

(B) 6.80 percent of the available state ceiling;

(4) if the issuer is an issuer of qualified small issue bonds and enterprise zone facility bonds, the amount to which the Internal Revenue Code limits issuers of those bonds;

(5) if the issuer is an issuer of qualified residential rental project bonds, the greater of:

(A) $50 million; or

(B) 1.70 percent of the available state ceiling; or

(6) if the issuer is any other issuer of bonds that require an allocation, the greater of:

(A) $100 million; or

(B) 3.40 percent of the available state ceiling.

(b) Repealed by Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 21(3), eff. September 1, 2019.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 1329, Sec. 13, eff. Sept. 1, 2003.

Amended by:

Acts 2005, 79th Leg., Ch. 600 (H.B. 1901), Sec. 1, eff. June 17, 2005.

Acts 2007, 80th Leg., R.S., Ch. 544 (S.B. 1185), Sec. 5, eff. September 1, 2007.

Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552), Sec. 11, eff. September 1, 2007.

Acts 2009, 81st Leg., R.S., Ch. 1416 (S.B. 2064), Sec. 12, eff. June 19, 2009.

Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 13, eff. September 1, 2019.

Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474), Sec. 21(3), eff. September 1, 2019.