Sec. 1372.069. APPLICATION FOR CARRYFORWARD DESIGNATION; LIMITATIONS. (a) An issuer may apply for a carryforward designation at any time during the year in which the designation is sought. (b) An issuer that applies for a carryforward designation may not apply later in the same year for a reservation for the same project. (c) An issuer may apply for the carryforward designation of an amount that is not more than the greater of: (1) $50 million; or (2) 1.70 percent of the available state ceiling. (d) The board by rule shall prevent an issuer from applying for a carryforward designation in an amount that is greater than the amount needed. (e) A carryforward designation granted under this section must comply with the Internal Revenue Code of 1986.
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