Private Activity Bond Allocation
| Type | Bill |
|---|---|
| Session | 2020 Regular Session |
| Subjects |
Concerning the allocation of private activity bonds, and, in connection therewith, eliminating the bond allocation committee, requiring the state housing board to assume the allocation related functions of the committee, and eliminating the cap on the direct allocation fee paid to the department of local affairs.
Bill Summary:
Federal law limits the amount of tax-exempt private activity bonds that may issued within each state and allows each state to provide by law a formula for allocating the limited amount of bonding authority among eligible bond issuers. The act eliminates the bond allocation committee that currently reviews and makes recommendations to the executive director of the department of local affairs (DOLA) regarding statewide priorities for the allocation of the limited amount of bonding authority and requires the state housing board to conduct the review and make the recommendations. The act also eliminates a cap on the amount of the direct allocation fee paid to DOLA by bond issuers that use the direct allocation of bonding authority to issue private activity bonds or that make a mortgage credit certificate election and eliminates the executive director's authority to promulgate rules to implement the statutes that govern private activity bond allocation.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 20-1161 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 20-1161 to the Committee of the Whole. | The motion passed on a vote of 10-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/11/2020 | Third Reading | BILL |
35
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 02/18/2020 | Third Reading | BILL |
63
AYE
0
NO
2
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 03/20/2020 | Governor | Governor Signed |
| 03/16/2020 | Governor | Sent to the Governor |
| 03/16/2020 | House | Signed by the Speaker of the House |
| 03/16/2020 | Senate | Signed by the President of the Senate |
| 03/11/2020 | Senate | Senate Third Reading Passed - No Amendments |
| 03/10/2020 | Senate | Senate Second Reading Passed - No Amendments |
| 03/05/2020 | Senate | Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 02/20/2020 | Senate | Introduced In Senate - Assigned to Finance |
| 02/18/2020 | House | House Third Reading Passed - No Amendments |
| 02/14/2020 | House | House Second Reading Special Order - Passed - No Amendments |
| 02/13/2020 | House | House Second Reading Laid Over Daily - No Amendments |
| 02/10/2020 | House | House Committee on Finance Refer Unamended to House Committee of the Whole |
| 01/21/2020 | House | Introduced In House - Assigned to Finance |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 09/14/2020 | 55 | Private Activity Bond Allocation |