Texas Insurance Code
§ 228.153 — INVESTMENT IN STRATEGIC INVESTMENT BUSINESS REQUIRED
IN § 228.153Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part B. INSURANCE PREMIUM TAXES · Ch. 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS · Art. D. INVESTMENT BY CERTIFIED CAPITAL COMPANIES
Statute text
View on source(a)In this section:
(1)"Strategic investment area" means an area of this state that qualifies as a strategic investment area under Subchapter O, Chapter 171, Tax Code, or, after the date that subchapter expires, an area that qualified as a strategic investment area under that subchapter immediately before that date.
(2)"Strategic investment business" means a qualified business that:
(A)has the business's principal business operations located in one or more strategic investment areas; and
(B)intends to maintain business operations in the strategic investment areas after receipt of the investment by the certified capital company.
(b)A certified capital company must place at least 30 percent of the amount of qualified investments required by Sections 228.151(a) and (b) in a strategic investment business.
Legislative history
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.