Florida Statutes 159.8101 – Applications for a carryforward; carryforward confirmations
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Terms Used In Florida Statutes 159.8101
- bond: means any bond which requires an allocation pursuant to…. See Florida Statutes 159.803
- Carryforward confirmation: means a confirmation for a project that qualifies for a carryforward pursuant to…. See Florida Statutes 159.803
- Code: means the Internal Revenue Code of 1986, as amended, and the regulations and rulings issued thereunder. 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
- Division: means the Division of Bond Finance of the State Board of Administration. See Florida Statutes 159.803
- Issuer: means the State of Florida, any governmental unit, a housing finance authority, an industrial development authority, or any other entity in this state authorized to issue private activity bonds. 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
(1) Any issuer that wishes to elect to carryforward an allocation of state volume limitation under s. 146(f) of the Code must first request and obtain a carryforward confirmation from the division.
(2) The division shall, when requested, issue a carryforward confirmation for those confirmations issued pursuant to this part for those projects that qualify for a carryforward pursuant to s. 146(f) of the Code, provided that such request includes an opinion of bond counsel that such allocation of state volume limitation will be used for a carryforward purpose pursuant to s. 146(f)(5) of the Code and is received by the division at least 3 business days before the expiration of such confirmation.
(3) A request for a carryforward confirmation must be made by filing with the division a notice of intent to issue meeting all requirements of this section and s. 159.8051(2). Such request must include an opinion of bond counsel that such allocation of state volume limitation will be used for a carryforward purpose pursuant to s. 146(f)(5) of the Code. All such requests must be timely filed with the division in accordance with s. 159.814 by or on behalf of the issuer requesting to carryforward an allocation of state volume limitation.