reglab/statecodes huggingface dataset:
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 4 - Application Schedule and Procedures › Section 5033 - Minimum Application Requirements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applications for an Allocation of the State Ceiling may be submitted to the
				  Committee at its offices in Sacramento, California. An Applicant must submit
				  all required information appropriate to the type of Bond for which the
				  Applicant requests an Allocation. The Applicant shall submit a complete
				  Application and supplemental material for each project or program for which the
				  Applicant is requesting an Allocation. Only complete Applications bearing the
				  original signatures of an officer of the Applicant or designee and the Project
				  Sponsor, if applicable, will be accepted.
(b) Unless specifically exempted, the
				  following items must accompany all Applications:
(1) Performance Deposit Certification and
				  evidence of the performance deposit as provided in section
				  5050(a), except
				  that for Qualified Residential Rental Projects, an Applicant shall provide the
				  certification and evidence within 20 calendar days following an award of an
				  Allocation.
(2) A non-refundable
				  first installment of the filing fee of $1,200 made payable to the California
				  Debt Limit Allocation Committee as provided in section
				  5054(a).
(3) Proof of the bond sale structure
				  requirements pursuant to article 6 of this chapter, if applicable, (for all
				  Applications other than Applications relating to a Mortgage Credit Certificate
				  Program pursuant to chapter 3.
(4)
				  An inducement or reimbursement resolution adopted by the governing body of the
				  Applicant approving the project or program to be Bond financed and authorizing
				  a senior officer, or in the case of a Student Loan Program, an officer of the
				  sponsor of the Student Loan Program, to file the Application with the
				  Committee, pay any fees required by the Committee, and certify the posting of
				  the required performance deposit, unless excepted herein.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 4 - Application Schedule and Procedures › Section 5034 - Ranking

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Applications submitted under a Competitive Application
					 Process will be ranked according to the number of points awarded by the
					 Committee pursuant to the evaluation criteria specific to the State Ceiling
					 Pool or program to which the Application is addressed.
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 repealer of section
					 5034, new section heading and
					 renumbering of former section
					 5035 to section
					 5034, transmitted to OAL 6-2-2011
					 and filed 7-1-2011 (Register 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(d)
						and
						8869.84(e),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 4 - Application Schedule and Procedures › Section 5035 - Preliminary Recommendations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) At
				  least twenty-five (25) calendar days prior to any meeting at which the
				  Committee is to award Allocations, the Executive Director shall publish a
				  preliminary list of Applicants for which the Executive Director expects to
				  recommend an Allocation (and the amount of those Allocations). During
				  competitive rounds, the following procedures shall be followed for the
				  Qualified Residential Rental Program:
(1)
				  Within ten (10) calendar days after the application due date, a list of
				  applicants, project names, project locations, selected pools and set-asides,
				  geographic regions, and requested Allocations and all reported self-scoring
				  totals and tie-breaker scores shall be published on the Committee's website as
				  provided in section
				  5140.
(2) Projects will be evaluated and ranked
				  based on information submitted in the application. Only applications that are
				  substantially complete and self-score high enough to receive an Allocation
				  shall be reviewed. Prior to publishing the preliminary recommendation list on
				  the Committee's website, Applicants and developers/sponsors shall be notified
				  of their preliminary score and the reasons for any modifications from the
				  Applicant's Self-Scoring Worksheet. That notice, or a subsequent notice, may
				  also contain completeness and/or feasibility defects determined during the
				  application evaluation. Notices shall only be sent for projects that self-score
				  high enough to receive an Allocation. Applicants shall have five (5) calendar
				  days to appeal such notice. Appeals shall be addressed to the Executive
				  Director in writing. The Executive Director shall have ten (10) calendar days
				  to issue a final determination. If an Applicant is unsatisfied with the final
				  determination, the Applicant may appeal to the Committee.
(3) The process specified in paragraph 2
				  above shall be used to produce a list of Applicants for which the Executive
				  Director expects to recommend an Allocation, subject to any pending appeals
				  that may be heard by the Committee.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 4 - Application Schedule and Procedures › Section 5038 - Appeals to Final Recommendations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any Applicant who timely appealed the preliminary
					 determination and is dissatisfied with the final recommendation in connection
					 with the Application or received no preliminary recommendation, may present its
					 case to the Committee at the Allocation meeting at which the Application is
					 considered, provided that the Applicant gives notice, in writing, of its
					 intention to do so at least five (5) business days prior to the Allocation
					 meeting. An Applicant's written notification must be delivered to the
					 Committee, no later than 5:00 p.m. (Pacific Time) on the last day specified for
					 providing notice.
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, renumbering of former
					 section 5038 to section
					 5036 and new section
					 5038, transmitted to OAL 6-2-2011
					 and filed 7-1-2011 (Register 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Section
						8869.84(c),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 4 - Application Schedule and Procedures › Section 5039 - Publishing of Agenda. At Least Ten (10) Calendar Days Before All Committee Meetings, the Executive Director Shall Post an Agenda of All Items to be Heard by the Committee, on the Committee's Website Provided in Section 5140

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
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 repealer and new
					 section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No.
					 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Section
						8869.84(c),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 5 - Performance Deposits and Fees › Section 5053 - Withdrawn or Denied Applications

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For Applicants that post the performance deposit prior to
					 award of an Allocation, if the Applicant withdraws an Application prior to
					 consideration by the Committee or if a Project fails to receive an award of
					 Allocation, the performance deposit shall be automatically refunded or released
					 and no written authorization from the Committee shall be necessary. Applicants
					 that receive an Allocation may also return the Allocation to the Committee
					 within twenty (20) days of the award date without threat of negative
					 points.
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, transmitted to OAL
					 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
5. Amendment
					 filed 2-1-2021 as an emergency pursuant to Governmental Code section
					 8869.94;
					 operative 2-1-2021. Emergency expiration extended 60 days (Executive Order
					 N-40-20) plus an additional 60 days (Executive Order N-71-20) (Register 2021,
					 No. 6). A Certificate of Compliance must be transmitted to OAL by 11-30-2021 or
					 emergency language will be repealed by operation of law on the following
					 day.
6. Refiling of 2-1-2021 order on 12-3-2021 as an emergency;
					 operative 12-3-2021 (Register 2021, No. 49). A Certificate of Compliance must
					 be transmitted to OAL by 3-3-2022 or emergency language will be repealed by
					 operation of law on the following day.
7. Certificate of Compliance
					 as to 12-3-2021 order transmitted to OAL 4-11-2022 and filed 5-23-2022
					 (Register 2022, No. 21).
Note: Authority cited: Section
						8869.94, Government Code.
						Reference: Sections
						8869.84(c)
						and
						8869.84(e),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 5 - Performance Deposits and Fees › Section 5055

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
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 repealer of section, transmitted to OAL
					 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c)
						and
						8869.84(e),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 5 - Performance Deposits and Fees › Section 5056

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
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 repealer of section, transmitted to OAL
					 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c)
						and
						8869.90,
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5060 - Minimum Requirements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applicants, other than Applicants for a Mortgage Credit Certificate Program,
				  shall provide evidence of a plan to privately place or publicly sell the
				  proposed Bonds with or without Credit Enhancement for an amount no less than
				  the amount requested in the Application. All relevant bond documents for
				  Qualified Residential Rental Projects must permit principal payments or
				  prepayments on the underlying loan(s) as transferred proceeds in a bond
				  preservation and recycling program as permitted by
				  26 U.S.C. Section
				  146(i)(6) and shall require
				  no less than thirty (30) days' notice to CDLAC and to the applicant prior to
				  the redemption of bonds at the conversion to permanent financing. Bond sale
				  structures that include a credit rating shall be subject to the following:
(1) Governmental Bond issued with full
				  recourse to, or guaranteed by a general obligation of a governmental entity
				  with taxing authority or Qualified Private Activity Bonds with recourse to the
				  corporate parent entity of the Project Sponsor via a corporate guarantee must
				  have an investment grade credit rating for the Project or the source of the
				  aforementioned guarantee for the Project.
(2) Qualified Private Activity Bonds without
				  a governmental or corporate guarantee shall provide a credit rating
				  specifically for the transaction.
(3) Governmental Bond issues with limited
				  recourse (i.e. lease revenue Bonds, project-specific recourse, or certificates
				  of participation) may provide either a credit rating specifically for the
				  transaction or provide evidence of a current credit rating for an existing
				  outstanding Bond with the same source of debt repayment.
(4) All Bond ratings shall include evidence
				  that the credit rating has been provided within the last six (6) months, or
				  that the current credit rating for outstanding Bond(s) has been substantiated
				  via the most recent updated surveillance review completed by a rating agency
				  within the last thirty six (36) months.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5061 - Credit Enhanced Sales

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applications for Bonds to be issued and sold through a public sale with Credit
				  Enhancement will be deemed to have provided satisfactory evidence of a Bond
				  sale plan required in section
				  5060 if documentation from the
				  Credit Enhancer includes the following:
(1)
				  Project Sponsor (borrower).
(2)
				  Project name and location.
(3)
				  Amount of the Credit Enhancement.
(4) Salient terms and conditions of the
				  agreement, including but not limited to the fee structure, term, rate,
				  security, collateral, guarantee, and recourse of the commitment.
(5) Evidence that the Credit Enhancer is
				  committed to move forward with the transaction if the terms and conditions in
				  the commitment letter are met.
(6)
				  Acceptance of the terms and conditions of the Credit Enhancement by the Credit
				  Enhancer and Project Sponsor evidenced by signatures from both
				  parties.
(7) If Fannie Mae, (a
				  private, shareholder-owned company with a charter from Congress requiring the
				  company to support the housing finance system) or any additional or successor
				  entity possessing a similar Congressional charter is providing the Credit
				  Enhancement, the commitment issued by a qualified lender under the Delegated
				  Underwriting and Servicing (DUS) program of Fannie Mae will constitute
				  acceptable proof of Credit Enhancement.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5062 - Private Placement Sales

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Subject to subsection (b) below, applications for Bonds to be issued and sold
				  through a private placement will be deemed to have provided satisfactory
				  evidence of a Bond sale plan required in section
				  5060 if documentation from the Bond
				  purchaser(s) includes the following:
(1)
				  Project Sponsor (borrower).
(2)
				  Project name and location.
(3) Bond
				  purchase amount.
(4) Salient terms
				  and conditions, including but not limited to the fee structure, term, rate,
				  security, collateral, guarantee, and recourse of the commitment including the
				  interest rate of the agreement.
(5)
				  Evidence that the lender is committed to move forward with the transaction if
				  the terms and conditions in the commitment letter are met.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5063 - Unenhanced Bond Sales with an a Category or Higher Rating Including Sales Where Cash is the Collateral

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applications for Bonds to be issued with an unenhanced credit rating equivalent
				  to an "A" category or higher as rated by a Nationally Recognized Statistical
				  Rating Organization will be deemed to have satisfied the minimum Bond sale
				  requirements required in section
				  5060 if the following is provided:
(1) Placement Agent Statement.
(2) Certifications of no current Bond
				  Defaults by the Issuer, guarantor (if any) and the Project Sponsor (if
				  any).
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5064 - Unenhanced Bond Sales with a BBB Category Credit Rating

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applications for Bonds to be issued with an unenhanced credit rating in the
				  "BBB" category or equivalent as rated by a Nationally Recognized Statistical
				  Rating Organization will be deemed to have satisfied the minimum Bond sale
				  requirements required in section
				  5060 if the following is provided:
(1) Placement Agent Statement.
(2) Certifications of no current Bond
				  Defaults by the Issuer, guarantor (if any) and the Project Sponsor (if
				  any).
(3) Brief summary of the
				  marketing plan.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5065 - Unenhanced Sales with Unrated or Non-Investment Grade Credit Rating

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Applications for Bonds to be issued with unrated or unenhanced non-investment
				  grade credit ratings will be permitted only for limited recourse Government
				  Bond issues and Qualified Private Activity Bonds and will be deemed to have
				  satisfied the minimum Bond sale requirements required in section
				  5060 if the following is provided:
(1) Placement Agent Statement.
(2) Certifications of no current Bond
				  Defaults by the Issuer, guarantor (if any) and the Project Sponsor (if
				  any).
(3) Complete marketing
				  plan.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 6 - Bond Sale Structure Requirements › Section 5066 - Qualifying Bond Defaults

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Bond Applications on behalf of a Project Sponsor with a Qualifying Bond Default
				  or bankruptcy in the last three (3) years, and/or from a Bond Issuer with three
				  (3) or more Qualifying Bond Defaults in the last five (5) years shall be
				  restricted to private placement sales accompanied with an Investment
				  Representation Letter or public sales with a minimum A category credit grade.
				  Governmental Bond Applications on behalf of a governmental guarantor with a
				  Qualifying Bond Default or bankruptcy within the last three (3) years shall be
				  restricted to private placements with Qualified Institutional Buyers or to
				  public sales rated A or higher.
(b)
				  Bond Issuers and Project Sponsors who are subject to these restrictions may
				  submit an appeal for a waiver of this requirement which shall be considered by
				  the Committee. For Issuers, appeals which involve the following circumstances
				  may be considered by the Executive Director:
(1) At least two (2) out of the three (3)
				  Qualifying Bond Defaults referenced involve the same Project Sponsor;
				  or
(2) At least two (2) out of the
				  three (3) Qualifying Bond Defaults referenced involve transactions whose bond
				  issuance occurred more than ten (10) years prior to the default recordation
				  date.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 7 - Committee Resolution; Use of State Ceiling Allocations › Section 5080 - Granting of Allocation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The granting of an Allocation by the Committee shall be
					 memorialized in a written resolution adopted by the Committee. The Committee
					 Resolution shall specify but not be limited to the following: the Applicant,
					 the amount of the Allocation, the project or program name for which the
					 Allocation has been provided, the Project Sponsor using the Bond proceeds where
					 applicable, the location of the project or program, the expiration of date of
					 the Allocation, and any additional conditions or restrictions imposed on the
					 Allocation by the Committee.
1. New
					 article 7 (sections
					 5080-5082) and 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 article 7 (sections
					 5080-5082) and 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 article 7 (sections
					 5080-5082) and 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).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Section
						8869.84(c),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 7 - Committee Resolution; Use of State Ceiling Allocations › Section 5081 - Changes in Use of Allocation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Use of an Allocation shall be limited by the provisions of
					 the Committee Resolution. Any changes to the specifications contained in the
					 Committee Resolution prior to the issuance of Bonds, including, but not limited
					 to, changes to the Bond sale structure, the provider of any Credit Enhancement,
					 the direct purchaser of the Bonds if a private placement of Bonds is indicated,
					 the entity selling Bonds, or the identity of the Applicant, must be approved by
					 the Committee prior to the Bond issuance. The Committee may delegate the
					 authority to approve these changes to the Committee Chair or to the Executive
					 Director. The Executive Director may administratively approve routine and
					 non-substantive changes that do not require additional Allocation.
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).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Section
						8869.84(c),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 7 - Committee Resolution; Use of State Ceiling Allocations › Section 5082 - Certification of Bond Issuance

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Following the Committee's receipt of a Report of Action
					 Taken as provided in section
					 5142, the State Treasurer or his or
					 her designee shall provide the Applicant with a letter certifying that the Bond
					 issue meets the requirements of
					 26 U.S.C. section
					 146. For Mortgage Credit Certificate
					 Applicants, this certification letter shall be provided the time that the
					 Committee Resolution is transmitted.
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, repealer and new section
					 and amendment of NOTE, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register
					 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.83(b),
						8869.84(c),
						8869.86(c) and
						8869.93 Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 8 - Expiration of Allocations › Section 5100 - Program Expiration Dates

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The
				  expiration date of the Allocation shall be specified in the Committee
				  Resolution and shall start from the date on which the Committee awards the
				  Allocation.
(b) Notwithstanding
				  extensions as provided in sections
				  5101 or
				  5103; the limitations prescribed by
				  section 5104; or Allocations awarded on a
				  carry-forward basis as provided in section
				  5131; the expiration dates for
				  issuing Bonds or converting Bonds to Mortgage Credit Certificate authority
				  shall be:
(1) One-Hundred Eighty (180) days
				  for the issuance of Beginning Farmer Bonds, Mortgage Revenue Bonds, Small-Issue
				  Industrial Development Bonds, Exempt Facility Bonds, and the conversion of
				  Bonds to Mortgage Credit Certificate authority.
(2) One-hundred twenty (120) days for the
				  issuance of Student Loan Bonds and for the issuance of at least one (1)
				  Mortgage Credit Certificate.
(3)
				  For Qualified Residential Rental Project Bonds, the following expiration dates
				  shall be assigned by the Executive Director within five (5) business days
				  following each Allocation Round:
(i) Projects
				  receiving an allocation shall be assigned an expiration date of one-hundred
				  eighty (180) days or one-hundred ninety-four (194) days. If the Committee
				  allocates more than 50% of the year's QRRP Allocation in any one round, there
				  shall be a third expiration date of two-hundred eight (208) days, and the
				  Executive Director shall assign approximately one-third of the projects in that
				  round to each expiration date whenever possible.
(ii) A project's applicant may request an
				  expiration date of less than one-hundred eighty (180) days by submitting a
				  written request to the Executive Director. The request shall be submitted no
				  later than the final posting date for the round in which the project is seeking
				  an allocation.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 8 - Expiration of Allocations › Section 5103 - Five Day Hardship Extensions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Committee may grant an extension to the expiration
					 dates provided in sections
					 5100 and
					 5101 up to five (5) additional
					 business days for extreme hardship cases. The Committee may delegate this
					 authority to the Executive Director.
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 repealer and new
					 section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No.
					 26).
5. Renumbering of former section
					 5103 to section
					 5102 and renumbering of former
					 section 5104 to new section
					 5103 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, including nonsubstantive amendment of section,
					 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).
8. Amendment filed 5-10-2021 as an emergency; operative
					 5-10-2021 (Register 2021, No. 20). Emergency expiration extended 60 calendar
					 days pursuant to Executive Order N-40-20 plus an additional 60 calendar days
					 pursuant to Executive Order N-71-20. A Certificate of Compliance must be
					 transmitted to OAL by 3-8-2022 or emergency language will be repealed by
					 operation of law on the following day.
9. Certificate of Compliance
					 as to 5-10-2021 order transmitted to OAL 4-11-2022 and filed 5-23-2022
					 (Register 2022, No. 21).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c),
						8869.84(e)
						and
						8869.89,
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 8 - Expiration of Allocations › Section 5104 - Year-End Allocations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Unless the Committee authorizes the carry-forward of an
					 Allocation pursuant to article 10 of this chapter, the expiration date of all
					 Allocations shall be no later than December 31 of the same calendar year
					 pursuant to 26 U.S.C.
					 section 146(d), which
					 defines the State Ceiling. The pending year-end expiration may result in the
					 assignment of expiration dates shorter than as prescribed in section
					 5100.
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 repealer and new
					 section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No.
					 26).
5. Renumbering of former section
					 5104 to section
					 5103 and renumbering and amendment
					 of former section
					 5105 to new section
					 5104 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)
						and
						8869.89,
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 8 - Expiration of Allocations › Section 5107 - Veterans Home Loan Programs. [Renumbered]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
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. Editorial correction
					 (Register 2011, No. 26).
5. Certificate of Compliance as to 4-1-2011
					 order, including new section heading, transmitted to OAL 6-2-2011 and filed
					 7-1-2011 (Register 2011, No. 26).
6. Renumbering of former section
					 5107 to new section
					 5106 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.
7. Certificate of Compliance
					 as to 11-9-2015 order transmitted to OAL 1-27-2016 and filed 3-10-2016
					 (Register 2016, No. 11).
8. Editorial correction of HISTORY 7
					 (Register 2016, No. 25).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.84(c)
						and
						8869.84(e),
						Government Code.
California Code of Regulations › Title 4 - Business Regulations › Division 9.5 - California Debt Limit Allocation Committee › Chapter 1 - General Provisions › Article 9 - Transfers of Allocation › Section 5120 - Transfer Requirements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Except for the reversion of unused Allocation pursuant to section
				  5106, Allocations are not
				  transferable unless expressly authorized in writing by the Committee. The
				  Committee may permit transfers of Allocation as follows:
(1) The Committee may permit transfers of
				  carryforward Allocations to the highest scoring Application on a waiting list
				  or, if a waiting list does not exist, the highest scoring Project in queue in a
				  current Allocation Round.
(2) The
				  Committee may permit transfers of Allocation between Applicants for the same
				  Project. Prior to the transfer of an Allocation between Applicants for the same
				  Project, the new Applicant must demonstrate that both the Minimum Application
				  Requirements outlined in Section
				  5033 and the specified program
				  threshold requirements have been met prior to the Committee's approval of the
				  transfer.
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 5130 - Prohibitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An Applicant receiving an Allocation may not carryforward
					 the Allocation to a subsequent calendar year unless expressly authorized in
					 writing by the Committee.
1. New
					 article 10 (sections
					 5130-5132) and 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 article 10 (sections
					 5130-5132) and 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 article 10 (sections
					 5130-5132) and 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, transmitted to OAL
					 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Section
						8869.85(c),
						Government Code.
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 5131 - Granting of Carryforward Allocations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Committee may award Allocation on a carryforward basis
					 for the purpose of providing sufficient time for Applicants to issue Bonds
					 under the current year's State Ceiling and/or to ensure all remaining portions
					 of the State Ceiling are issued.
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).
Note: Authority cited: Section
						8869.94,
						Government Code. Reference: Sections
						8869.85(c)
						and
						8869.86(a)(3),
						Government Code.