Principle Criteria
Free Enterprise
Property Rights
Personal Responsibility
Limited Government
Individual Liberty
Digest
SB 708 modifies the definition of "closing" for private activity bonds under the Texas Government Code. It redefines "closing" as the delivery of a bond in exchange for the required payment, including incremental funding with a minimum partial payment of 10%. The bill also stipulates that closing does not occur if the bond's proceeds' expenditure depends on obtaining credit enhancement. This change clarifies procedures for bond delivery and funding, particularly for qualified residential rental projects.
Author (1)
Carol Alvarado
Contact the Author
Sen. Carol Alvarado
Capitol Phone:
(512) 463-0106
Capitol Office:
CAP 1E.9
E-Mail:
