Florida Statutes 159.8062 – Florida housing finance corporation pool
Current as of: 2024 | Check for updates
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(1) From January 1 through September 30 of each year, the corporation pool is established and shall be available for the sole purpose of issuing confirmations for affordable housing bonds to the corporation and its assigns pursuant to the procedures specified in s. 159.8052. Before October 1 of any year, the corporation pool is the only pool from which a corporation may receive any allocation of state volume limitation.
(2)(a) Notwithstanding s. 159.8051(1), before October 1 of any year, the corporation need not submit a notice of intent to issue or obtain a confirmation for the issuance of affordable housing bonds using the state volume limitation allocated to this pool pursuant to s. 159.8041(2)(b).
Terms Used In Florida Statutes 159.8062
- Affordable housing bonds: means multifamily affordable housing bonds and single-family affordable housing bonds. See Florida Statutes 159.803
- Confirmation: means the conditional allocation of a portion of the state volume limitation to an issuer, made pursuant to a timely filed notice of intent to issue, which is contingent upon the issuer's timely filing of an issuance report. See Florida Statutes 159.803
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Florida Housing Finance Corporation created by…. See Florida Statutes 159.803
- Division: means the Division of Bond Finance of the State Board of Administration. See Florida Statutes 159.803
- Notice of intent to issue: means the form containing the information described in…. See Florida Statutes 159.803
- State volume limitation: means the maximum amount of private activity bonds which may be issued in this state during each calendar year as such limit is imposed by…. See Florida Statutes 159.803
(b) For affordable housing bonds that the corporation intends to issue on or after October 1 of any year, the corporation must submit a notice of intent to issue no later than September 30 of such year, and the division shall issue a confirmation not exceeding the amount of state volume limitation then available in the corporation pool. The corporation is not subject to the fee required under s. 159.811 for notices of intent to issue submitted pursuant to this paragraph.
(3) Prior to June 1 of each year, the corporation may, in its discretion, assign any portion of the state volume limitation in the corporation pool to the affordable housing allocation pools.