It is a measure of capacity and is based on a state's population.
Federal law determines project eligibility.
A company must obtain an award of Volume Cap before it can have tax-exempt bonds issued for its project. Awards June Awards July Awards August Awards September Awards October Awards November Awards Contact Info. All issuers statewide apply to the IDFA for Volume Cap, which is awarded on a competitive basis under the IDFA's Volume Cap Guidelines. Monthly awards are posted on the IDFA's website. Volume Cap is also used by the Indiana Housing Financing Authority for single family housing programs.