5-1.2-16-6. Year End; Unused Amounts
Sec. 6. (a) At 5 p.m. on December 20 of each year, all categories established by section 3 of this chapter are eliminated and any remaining amounts in those categories shall be placed in a single noncategorized state pool. (b) After 5 p.m. on December 20 of each year, applications for a grant of volume […]
5-1.2-16-7. Forms; Guidelines
Sec. 7. (a) Notwithstanding IC 5-15-5.1, the authority has the sole authority to prescribe and furnish forms used in the administration of this chapter. (b) The authority may adopt guidelines, without complying with IC 4-22-2, to govern the administration of this chapter. The guidelines may establish procedures, criteria, and conditions for each category of bonds […]
5-1.2-16-8. Application Requirements
Sec. 8. To qualify for a grant of volume cap, an applicant must do the following: (1) Apply for the grant in conformity with the procedures established by the authority. (2) Provide the information reasonably requested by the authority to carry out this chapter. (3) Meet the criteria established by the authority for the category […]
5-1.2-16-9. Application Procedure
Sec. 9. The authority shall establish a written: (1) application procedure for the granting of a portion of the volume cap to an applicant; and (2) procedure for filing carryforward elections. As added by P.L.189-2018, SEC.25.
5-1.2-16-10. Selection Criteria
Sec. 10. The authority shall establish written criteria for the selection of grant applications from among the applicants that qualify for the grant under section 8 of this chapter. The criteria must promote the health and well-being of the residents of Indiana by promoting the public purposes served by each of the bond categories subject […]
5-1.2-16-11. Grant Termination; Conditions
Sec. 11. The authority may establish conditions for the termination of a grant of volume cap. The conditions may include requirements such as the following: (1) That the amount of volume cap granted may not be substantially higher than the amount of actual bonds issued. (2) That the issuer issue bonds within the time specified […]
5-1.2-16-1. Purpose
Sec. 1. The purpose of this chapter is to allocate the volume cap under Section 146 of the Internal Revenue Code. As added by P.L.189-2018, SEC.25.
5-1.2-16-2. Alternative Allocation Formula
Sec. 2. (a) The allocation formula established by Section 146(b) and Section 146(c) of the Internal Revenue Code for the volume cap established for Indiana is supplanted under the authority granted by Section 146(e) of the Internal Revenue Code. (b) All amounts of the volume cap are annually allocated to the state. Thereafter all amounts […]
5-1.2-16-3. Categories
Sec. 3. (a) The volume cap shall be allocated annually among categories of bonds in accordance with section 4 of this chapter. Those categories are as follows: (1) Bonds issued by the authority. (2) Bonds issued by the IHCDA. (3) Bonds issued by the ISMEL. (4) Bonds issued by local units or any other issuers […]
5-1.2-16-4. Annual Allocation
Sec. 4. (a) On or before January 1 of each year, the authority shall determine the dollar amount of the volume cap for that year. (b) Each year the volume cap shall be allocated among the categories specified in section 3 of this chapter as follows: Percentage of Type of Bonds Volume Cap Bonds issued […]