Florida § 159.8091 - Carryforward allocation pool.

§ 159.8091. Carryforward allocation pool.

(1) The carryforward allocation pool is hereby established. The carryforward allocation pool is available for the sole purpose of issuing carryforward confirmations to issuers statewide for projects that are entitled under the Code to a carryforward of state volume limitation past the end of the calendar year pursuant to requests that meet the requirements of s. 159.8101(3). (2) On December 15 of each year, or, if December 15 is not a business day, the first business day thereafter, the division shall issue carryforward confirmations as provided for in subsection (3) until the state volume limitation in the carryforward allocation pool is exhausted. (3) The amount of each carryforward confirmation, if there is sufficient state volume limitation in the carryforward allocation pool, must be the amount requested. If the division determines that the aggregate amount of state volume limitation requested for carryforward confirmations pursuant to this section exceeds the amount available in the carryforward allocation pool, the division must assign a consecutive number to each such request, shall draw such numbers randomly to establish the priority of each request, and shall issue carryforward confirmations until the total amount of state volume limitation is exhausted. Any requests in excess of the state volume limitation may not be given any priority in the following calendar year. If any state volume limitation remains in the carryforward allocation pool after issuing carryforward confirmations for all requests filed pursuant to s. 159.8101, the division must make such remaining state volume limitation available to the corporation to be carried forward for the issuance of affordable housing bonds in subsequent years as provided by the Code. Thereafter, any remaining state volume limitation not used as provided in subsection (2) must be carried forward to the next calendar year to the extent permitted by the Code.