288.9915 Use of proceeds from qualified investments; recordkeeping. - Florida Statutes

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Statutes > Florida > TitleXIX > Chapter288 > PARTXIII > 288_9915

1

288.9915 Use of proceeds from qualified investments; recordkeeping.

(1) A qualified community development entity may not make cash interest payments on a long-term debt security that is a qualified investment in excess of the entity’s operating income for 6 years following the issuance of the security.

(2) A qualified community development entity shall keep detailed records showing the use of proceeds from qualified investments to fund qualified low-income community investments.

(3) A qualified active low-income community business, including its affiliates, may not receive more than $10 million in qualified low-income community investments under the New Markets Development Program Act.

History. ss. 8, 15, ch. 2009-50.

1

Note. Expires December 31, 2022, pursuant to s. 15, ch. 2009-50.

State Codes and Statutes

Statutes > Florida > TitleXIX > Chapter288 > PARTXIII > 288_9915

1

288.9915 Use of proceeds from qualified investments; recordkeeping.

(1) A qualified community development entity may not make cash interest payments on a long-term debt security that is a qualified investment in excess of the entity’s operating income for 6 years following the issuance of the security.

(2) A qualified community development entity shall keep detailed records showing the use of proceeds from qualified investments to fund qualified low-income community investments.

(3) A qualified active low-income community business, including its affiliates, may not receive more than $10 million in qualified low-income community investments under the New Markets Development Program Act.

History. ss. 8, 15, ch. 2009-50.

1

Note. Expires December 31, 2022, pursuant to s. 15, ch. 2009-50.

State Codes and Statutes

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State Codes and Statutes

Statutes > Florida > TitleXIX > Chapter288 > PARTXIII > 288_9915

1

288.9915 Use of proceeds from qualified investments; recordkeeping.

(1) A qualified community development entity may not make cash interest payments on a long-term debt security that is a qualified investment in excess of the entity’s operating income for 6 years following the issuance of the security.

(2) A qualified community development entity shall keep detailed records showing the use of proceeds from qualified investments to fund qualified low-income community investments.

(3) A qualified active low-income community business, including its affiliates, may not receive more than $10 million in qualified low-income community investments under the New Markets Development Program Act.

History. ss. 8, 15, ch. 2009-50.

1

Note. Expires December 31, 2022, pursuant to s. 15, ch. 2009-50.