(a) The Board may provide principal forgiveness for financial assistance for:
- (1) an entity that meets the affordability criteria established in this chapter and in the IUP for a Disadvantaged Community; or
- (2) an entity that meets the criteria established in the IUP for other subsidies allowed under the federal appropriations law or the capitalization grant.
- (b) Total amount of principal forgiveness. The total amount of principal forgiveness may not exceed the percentages established by federal law or by the capitalization grant.
Source Note:The provisions of this §371.17 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective July 4, 2016, 41 TexReg 4844.