Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 5 - Arkansas Development Finance Authority > Subchapter 6 - Allocation of State Ceiling > § 15-5-610 - Allocation of 2008 Housing Act Volume Cap.

§ 15-5-610 - Allocation of 2008 Housing Act Volume Cap.

15-5-610. Allocation of 2008 Housing Act Volume Cap.

(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.