(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, appropriations acts, or by the terms of 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; amended to be effective June 10, 2020, 45 TexReg 3863