Texas Government Code 1372.023 – Dedication of Portions of State Ceiling to Texas Department of Housing and Community Affairs
Current as of: 2024 | Check for updates
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(a) Until August 7, of that portion of the state ceiling that is available exclusively for reservations by issuers of qualified mortgage bonds, 33.34 percent is available exclusively to the Texas Department of Housing and Community Affairs for the purpose of issuing qualified mortgage bonds.
(b) Until August 15, of that portion of the state ceiling that is available exclusively for reservations by issuers of qualified residential rental project bonds, one-fifth is available exclusively to the Texas Department of Housing and Community Affairs in the manner described by § 1372.0231.
Terms Used In Texas Government Code 1372.023
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(c) The Texas Department of Housing and Community Affairs may not reserve a portion of the state ceiling that is available exclusively for reservations by issuers of qualified residential rental project bonds other than the portion dedicated to the department under Subsection (b).