(a) The 2008 Housing Act Volume Cap shall be allocated one hundred percent (100%) to the Arkansas Development Finance Authority to finance qualified housing issues.
(b) The authority may carry forward the 2008 Housing Act Volume Cap as provided in Section 146(f)(6) of the Internal Revenue Code of 1986, as in effect on January 1, 2009.
(c) The authority, by resolution of its board of directors, may assign any portion of the 2008 Housing Act Volume Cap to one (1) or more other bond issuers in the state for the purpose of financing qualified housing issues.
Section: Previous 15-5-602 15-5-603 15-5-604 15-5-605 15-5-606 15-5-607 15-5-608 15-5-609 15-5-610Last modified: November 15, 2016