§ 15.2-5002. Allocation of state ceiling for 2008 and beyond.
This section shall apply to all private activity bonds issued by issuingauthorities during 2008 and in years subsequent to 2008. The state ceilingfor these calendar years shall be allocated as follows:
1. "Housing." For calendar years 2008 and beyond, an amount equal to 57percent of the Virginia state ceiling on private activity bonds shall be setaside for single family and multifamily housing bonds. The housing portion ofthe state ceiling shall be divided between local housing authorities and theVirginia Housing Development Authority. The bond authority allocated to theseissuers shall be distributed as follows:
Issuer Portion of State Ceiling Local Housing Authorities 14% Virginia Housing Development Authority 43% Total Housing Allocation 57%
2. "Industrial Development." For calendar years 2008 and beyond, an amountequal to 25 percent of the Virginia state ceiling on private activity bondsshall be set aside for the issuance of industrial development bonds formanufacturing and exempt facilities; provided, however, that in the eventthat on July 1, 2008, the amount of private activity bonds allocated sinceJanuary 1, 2008, for manufacturing and exempt facilities pursuant to theguidelines established under § 15.2-5003 shall have exceeded such 25 percentamount, the amount set aside for the Virginia Housing Development Authorityunder this section for calendar year 2008 shall be reduced by the amount ofsuch excess, but in no event shall the amount of private activity bonds soallocated exceed 41 percent of the Virginia state ceiling on private activitybonds for calendar year 2008.
3. "State allocation." For calendar years 2008 and beyond, an amount equalto eighteen percent of the Virginia state ceiling on private activity bondsshall be set aside for state issuing authorities for allocations to housingand to exempt projects and manufacturing facilities of state and regionalinterests as determined by the Governor.
(1987, c. 306, § 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997, c.587; 1998, cc. 39, 784; 2008, c. 445.)
§ 15.2-5002. Allocation of state ceiling for 2008 and beyond.
This section shall apply to all private activity bonds issued by issuingauthorities during 2008 and in years subsequent to 2008. The state ceilingfor these calendar years shall be allocated as follows:
1. "Housing." For calendar years 2008 and beyond, an amount equal to 57percent of the Virginia state ceiling on private activity bonds shall be setaside for single family and multifamily housing bonds. The housing portion ofthe state ceiling shall be divided between local housing authorities and theVirginia Housing Development Authority. The bond authority allocated to theseissuers shall be distributed as follows:
Issuer Portion of State Ceiling Local Housing Authorities 14% Virginia Housing Development Authority 43% Total Housing Allocation 57%
2. "Industrial Development." For calendar years 2008 and beyond, an amountequal to 25 percent of the Virginia state ceiling on private activity bondsshall be set aside for the issuance of industrial development bonds formanufacturing and exempt facilities; provided, however, that in the eventthat on July 1, 2008, the amount of private activity bonds allocated sinceJanuary 1, 2008, for manufacturing and exempt facilities pursuant to theguidelines established under § 15.2-5003 shall have exceeded such 25 percentamount, the amount set aside for the Virginia Housing Development Authorityunder this section for calendar year 2008 shall be reduced by the amount ofsuch excess, but in no event shall the amount of private activity bonds soallocated exceed 41 percent of the Virginia state ceiling on private activitybonds for calendar year 2008.
3. "State allocation." For calendar years 2008 and beyond, an amount equalto eighteen percent of the Virginia state ceiling on private activity bondsshall be set aside for state issuing authorities for allocations to housingand to exempt projects and manufacturing facilities of state and regionalinterests as determined by the Governor.
(1987, c. 306, § 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997, c.587; 1998, cc. 39, 784; 2008, c. 445.)
§ 15.2-5002. Allocation of state ceiling for 2008 and beyond.
This section shall apply to all private activity bonds issued by issuingauthorities during 2008 and in years subsequent to 2008. The state ceilingfor these calendar years shall be allocated as follows:
1. "Housing." For calendar years 2008 and beyond, an amount equal to 57percent of the Virginia state ceiling on private activity bonds shall be setaside for single family and multifamily housing bonds. The housing portion ofthe state ceiling shall be divided between local housing authorities and theVirginia Housing Development Authority. The bond authority allocated to theseissuers shall be distributed as follows:
Issuer Portion of State Ceiling Local Housing Authorities 14% Virginia Housing Development Authority 43% Total Housing Allocation 57%
2. "Industrial Development." For calendar years 2008 and beyond, an amountequal to 25 percent of the Virginia state ceiling on private activity bondsshall be set aside for the issuance of industrial development bonds formanufacturing and exempt facilities; provided, however, that in the eventthat on July 1, 2008, the amount of private activity bonds allocated sinceJanuary 1, 2008, for manufacturing and exempt facilities pursuant to theguidelines established under § 15.2-5003 shall have exceeded such 25 percentamount, the amount set aside for the Virginia Housing Development Authorityunder this section for calendar year 2008 shall be reduced by the amount ofsuch excess, but in no event shall the amount of private activity bonds soallocated exceed 41 percent of the Virginia state ceiling on private activitybonds for calendar year 2008.
3. "State allocation." For calendar years 2008 and beyond, an amount equalto eighteen percent of the Virginia state ceiling on private activity bondsshall be set aside for state issuing authorities for allocations to housingand to exempt projects and manufacturing facilities of state and regionalinterests as determined by the Governor.
(1987, c. 306, § 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997, c.587; 1998, cc. 39, 784; 2008, c. 445.)
