Texas § GV.1372.031 - PRIORITIES FOR RESERVATIONS AMONG CERTAIN ISSUERS

§ GV.1372.031. PRIORITIES FOR RESERVATIONS AMONG CERTAIN ISSUERS

PRIORITIES FOR RESERVATIONS AMONG CERTAIN ISSUERS. (a) Except as provided by Subsection (b) and subject to Sections 1372.0321 , 1372.0231 , and 1372.035 (c), if, on or before October 20, more than one issuer in a category described by Section 1372.022 (a)(2), (3), (4), or (5) applies for a reservation of the state ceiling for the next program year, the board shall grant reservations in that category in the order determined by the board by lot. (b) Until August 1 of the program year, within the category described by Section 1372.022 (a)(5), the board shall grant priority to the Texas Economic Development Bank for projects that the Texas Economic Development and Tourism Office determines meet the governor's criteria for funding from the Texas Enterprise Fund. Notwithstanding the priority, the Texas Economic Development Bank may not receive an amount greater than one-sixth of the portion of the state ceiling available under Section 1372.022 (a)(5) on January 1 of the program year. (c) In selecting projects for reservations of the state ceiling for a program year under Subsection (b), among those projects the Texas Economic Development and Tourism Office determines meet the governor's criteria for funding from the Texas Enterprise Fund the office shall give priority to obtaining reservations for those projects located or to be located in an economically depressed or blighted area, as defined by Section 2306.004 , or in an enterprise zone designated under Chapter 2303 . (d) This section and Section 1372.063 do not give a priority to any project described by Subsection (b) for the purpose of selecting projects for reservations under Section 1372.022 (b). (e) The Texas Economic Development Bank is subject to Section 1201.027 (d). Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1367, Sec. 10.05, eff. Sept. 1, 2001; Acts 2001, 77th Leg., ch. 1420, Sec. 8.015(a), eff. Sept. 1, 2001; Acts 2003, 78th Leg., ch. 969, Sec. 5, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1329, Sec. 9, eff. Sept. 1, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332 ), Sec. 8, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 1108 (H.B. 3552 ), Sec. 8, eff. September 1, 2007. Reenacted by Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 11.017, eff. September 1, 2009. Amended by: Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474 ), Sec. 11, eff. September 1, 2019.