Texas Insurance Code

§ 228.001 — GENERAL DEFINITIONS

IN § 228.001Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part B. INSURANCE PREMIUM TAXES · Ch. 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS · Art. A. GENERAL PROVISIONS

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In this chapter:

(1)"Allocation date" means the date on which certified investors are allocated premium tax credits.

(2)"Certified capital" means cash invested by a certified investor that fully funds the purchase price of an equity interest in a certified capital company or a qualified debt instrument issued by the company.

(3)"Certified capital company" means a partnership, corporation, or trust or limited liability company, whether organized on a profit or nonprofit basis, that:

(A)has as the company's primary business activity the investment of cash in qualified businesses; and

(B)is certified as meeting the criteria of this chapter.

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Legislative history

Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 14.001(a), eff. September 1, 2009. Acts 2013, 83rd Leg., R.S., Ch. 569 (S.B. 734), Sec. 4, eff. June 14, 2013.