California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 10 - Carry-Forward Allocations › Section 5132 - Expiration of Carryforward Allocations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Committee will specify the expiration date of the
					 carryforward Allocation in the Committee Resolution memorializing the grant of
					 the Allocation. If any amount of the carryforward Allocation has not been used
					 to issue Bonds or convert Bonds to Mortgage Credit Certificate Authority on or
					 before the expiration date, the performance deposit will be forfeited to the
					 Committee and the Committee may require the Issuer to transfer the carryforward
					 Allocation to another approved Project by the same Issuer in accordance with
					 section 5120. If the Committee does not
					 require a transfer of the carryforward Allocation, the expiration date may be
					 extended with the approval of the Executive Director until the Allocation
					 expires pursuant to 26
					 U.S.C. section 146(f)(3) or
					 to each subsequent deadline for submitting Applications to the Committee. At
					 that time, the Committee may require the Issuer to transfer the carryforward
					 Allocation to another approved Project by the same Issuer.
1. New
					 section filed 7-12-2010 as an emergency pursuant to Government Code section
					 8869.94;
					 operative 7-12-2010 (Register 2010, No. 29). A Certificate of Compliance must
					 be transmitted to OAL by 1-10-2011 or emergency language will be repealed by
					 operation of law on the following day.
2. New section refiled
					 1-6-2011 as an emergency pursuant to Government Code section
					 8869.94;
					 operative 1-6-2011 (Register 2011, No. 1). A Certificate of Compliance must be
					 transmitted to OAL by 4-6-2011 or emergency language will be repealed by
					 operation of law on the following day.
3. New section refiled
					 4-1-2011 as an emergency pursuant to Government Code section
					 8869.94;
					 operative 4-6-2011 (Register 2011, No. 13). A Certificate of Compliance must be
					 transmitted to OAL by 7-5-2011 or emergency language will be repealed by
					 operation of law on the following day.
4. Certificate of Compliance
					 as to 4-1-2011 order, including new section heading and amendment of section,
					 transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No.
					 26).
5. Amendment of section heading filed 11-9-2015 as an emergency
					 pursuant to Government Code section
					 8869.94;
					 operative 11-9-2015 (Register 2015, No. 46). A Certificate of Compliance must
					 be transmitted to OAL by 5-9-2016 or emergency language will be repealed by
					 operation of law on the following day.
6. Certificate of Compliance
					 as to 11-9-2015 order transmitted to OAL 1-27-2016 and filed 3-10-2016
					 (Register 2016, No. 11).
7. Editorial correction of HISTORY 6
					 (Register 2016, No. 25).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c),
						8869.84(e),
						8869.85(c)
						and
						8869.86(a)(3),
						Government Code.