PAB Cap Grows to $30.61B
The Bond Buyer | Dec. 23

U.S. Housing Act Has Had Little Impact So Far, Panelists Say
The Bond Buyer | Nov. 11

Calling On Fannie & Freddie
The Bond Buyer | Oct. 29

IRS, Treasury to Finalize Regs on PAB Public Approval Requirements
The Bond Buyer | Sep. 22

IRS Releases Data on State's Capacity for Housing Bonds
The Bond Buyer | Sep. 18

Guidance Provided on Tax-Exempt Housing Bonds and 2008 Housing Legislation (Notice 2008-79)
Center for Tax Studies | Sep. 18

Ohio Housing Finance Agency's Funding Capacity Bolstered by Federal Bill
Business First of Columbus | Sep. 5

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National Volume Cap Resource Center

The Council of Development Finance Agencies (CDFA), in order to provide an important service to the development finance industry and its members, has now launched the National Volume Cap Resource Center to showcase data, news, and information pertaining to the private activity bond volume cap. CDFA has previously collected the 2007 private activity bond volume cap data and issued the National Volume Cap Report.

To compile the data, CDFA surveyed and interviewed representatives from each state’s allocating authority. The data represents the most accurate volume cap numbers as reported by each state to CDFA or the numbers posted in the states’ year-end private activity bond reports. The 2005 and 2006 figures are from The Bond Buyer. As a leader in the development finance industry, CDFA serves as the principal source for private-activity bond volume cap data, reporting and trends.

About Volume Cap

The federally mandated volume cap for private-activity bonds (PABs) provides a set allocation to each state. PABs are issued for the benefit of private individuals or entities. PABs can only be issued on a tax-exempt basis if they are “qualified.” The Internal Revenue Code permits the financing of several types of projects as “qualified,” including industrial development bonds (IDBs). IDBs, a bedrock financing tool for the economic development industry, are issued by local issuing authorities and allow small manufacturers to borrow money at lower cost for expansion and other capital expenses.

In 2007, the volume cap for each state was equal to the greater of $85 per capita or $256,235,000. Each state may allocate their cap and issue bonds by whatever procedure they choose. Unused cap space may be carried forward for up to three years.

Volume cap for 2008 was equal to the greater of $85 per capita or $262,095,000. In July, the Housing Recovery Act added an additional $11 billion of volume cap to be used specifically for housing.

>>>VIEW STATE-BY-STATE BREAKDOWN OF 2008 VOLUME CAP

>>>VIEW STATE-BY-STATE BREAKDOWN OF 2009 VOLUME CAP

Using CDFA’s National Volume Cap Online Center

The key function of the National Volume Cap Resource Center is to provide access to the national and individual state data pertaining to volume cap use and administration.

The web resource features an interactive map that allows visitors to scroll over individual states and view volume cap data on a state-by-state basis.

>>>USE THE INTERACTIVE VOLUME CAP MAP

The data search page allows for more in-depth research. The search form allows visitors to choose from several fields to narrow down the data. The form also allows for comparisons between states.

>>>SEARCH THE VOLUME CAP DATABASE

CDFA’s Annual National Volume Cap Report is also posted on the web page, as will all future reports.

>>>READ CDFA's NATIONAL VOLUME CAP REPORT

The National Volume Cap Resource Center also includes additional resources and articles concerning volume cap.

>>>SEARCH FOR ADDTIONAL RESOURCES ABOUT VOLUME CAP