Texas § IN.228.255 - ALLOCATION OF PREMIUM TAX CREDIT
Full text of Texas The Texas Constitution § IN.228.255 — ALLOCATION OF PREMIUM TAX CREDIT, with citation guidance and answers to common questions.
§ IN.228.255. ALLOCATION OF PREMIUM TAX CREDIT
ALLOCATION OF PREMIUM TAX CREDIT. (a) If the total premium tax credits claimed by all certified investors with respect to Program One or Program Two, as applicable, exceeds the total limits on premium tax credits established for that program by Section 228.254 (a), the comptroller shall allocate the total amount of premium tax credits allowed under this chapter to certified investors in certified capital companies on a pro rata basis in accordance with this section. (b) The pro rata allocation for each certified investor shall be the product of: (1) a fraction, the numerator of which is the amount of the premium tax credit allocation claim filed on behalf of the investor with respect to Program One or Program Two, as applicable, and the denominator of which is the total amount of all premium tax credit allocation claims filed on behalf of all certified investors with respect to that program; and (2) the total amount of certified capital for which premium tax credits may be allowed with respect to that program under this chapter. (c) The maximum amount of certified capital for which premium tax credit allocation may be allowed on behalf of a single certified investor and the investor's affiliates with respect to Program One or Program Two, as applicable, whether by one or more certified capital companies, may not exceed the greater of: (1) $10 million; or (2) 15 percent of the maximum aggregate amount available with respect to that program under Section 228.254 (a). Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636 ), Sec. 1B.001, eff. April 1, 2009. Amended by: Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969 ), Sec. 14.007(a), eff. September 1, 2009.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.228.255
What does The Texas Constitution § IN.228.255 cover?
Section IN.228.255 ("ALLOCATION OF PREMIUM TAX CREDIT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.228.255?
A common citation format is "The Texas Constitution § IN.228.255" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.228.255 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
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