Tex. Gov't Code Section 1372.040
Reservation by Certain Issuers of Qualified Mortgage Bonds of Money for Mortgages for Certain Persons

An issuer of qualified mortgage bonds, other than the Texas Department of Housing and Community Affairs or the Texas State Affordable Housing Corporation, shall reserve for six months 50 percent of the funds available for loans outside the federally designated target areas to provide mortgages to individuals and families with incomes below 80 percent of the applicable median family income, as defined by Section 143(f)(4), Internal Revenue Code (26 U.S.C. Section 143(f)(4)).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 969, Sec. 7, eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 1329, Sec. 15, eff. Sept. 1, 2003.

Source: Section 1372.040 — Reservation by Certain Issuers of Qualified Mortgage Bonds of Money for Mortgages for Certain Persons, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1372.­htm#1372.­040 (accessed Jun. 5, 2024).

1372.001
Definitions 1372.004
Rules 1372.005
Delivery of Required Submissions to Board 1372.006
Fees 1372.021
Annual Allocation of State Ceiling 1372.022
Availability of State Ceiling to Issuers 1372.023
Dedication of Portions of State Ceiling to Texas Department of Housing and Community Affairs 1372.024
Increase in Amount of State Ceiling Available to Issuers of State-voted Issues 1372.025
Reallocation of State Ceiling on Failure of Bonds to Qualify as Tax-exempt Obligations 1372.026
Limitation on Amount of State Ceiling Available to Housing Finance Corporations 1372.027
Publication of Available State Ceiling 1372.028
Application for Reservation 1372.029
Applications for Multiple Projects at Same Site Prohibited 1372.030
Granting of Certain Reservations Prohibited 1372.031
Priorities for Reservations Among Certain Issuers 1372.032
Priorities for Reservations Among Issuers of Qualified Mortgage Bonds 1372.033
Priorities for Reservations Among Certain Issuers of Qualified Student Loan Bonds 1372.034
Order of Acceptance of Certain Applications for Reservation 1372.035
Granting of Reservations 1372.036
Reservations from Portion of State Ceiling Subsequently Becoming Available 1372.037
Limitations on Granting of Reservations for Individual Projects 1372.038
Reservation Date 1372.039
Certification Required of Issuer 1372.040
Reservation by Certain Issuers of Qualified Mortgage Bonds of Money for Mortgages for Certain Persons 1372.041
Refusal to Accept Reservation by Issuer 1372.042
Deadline for Closing on Bonds by Issuer 1372.043
Cancellation of Reservation on Issuer’s Failure to Timely Close on Bonds 1372.044
Assignment of Reservation 1372.045
Reservation, Allocation, and Carryforward Designation by Board of Additional State Ceiling 1372.061
Designation by Board of Certain Amounts of State Ceiling as Carryforward 1372.062
Priority Classifications of Carryforward Designations 1372.069
Application for Carryforward Designation 1372.070
Form and Contents of Application for Carryforward Application 1372.071
Action on Application for Carryforward Designation 1372.072
Amendment or Withdrawal of Application for Carryforward Designation 1372.073
Designation by Board of Unencumbered State Ceiling 1372.074
Reassignment of Carryforward Designation 1372.101
Program Administration 1372.102
Rules and Procedures 1372.103
Application Fees 1372.0223
Dedication of Portion of State Ceiling to Certain Issuers of Qualified Mortgage Bonds 1372.0231
Dedication of Portion of State Ceiling Available for Qualified Residential Rental Project Bonds 1372.0261
Failure of Housing Finance Corporation to Use Amount of State Ceiling Allocated 1372.0281
Information Required of Issuers of Certain Qualified Student Loan Bonds 1372.0321
Priorities for Reservations Among Issuers of Qualified Residential Rental Project Issues
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1372.040’s source at texas​.gov