Private Activity Bond Allocation Program
2015 Program Year

Important Dates

October 5 - 17, 2014 - Completed applications due to the Texas Bond Review Board. Sec. 1372.028(b)

November 7, 2014 (10:00 AM) - If needed, PAB Lottery for 2015 Private Activity Bond allocations at the Capitol Extension Room 02.026.

January 2, 2015 - First day of the 2015 program year

The earlier of close on 2014 carryforward or February 16, 2015 - deadline to file form 8328 with the IRS if in receipt of carryforward

March 2, 2015 - Multi-family volume cap from unsubscribed regions collapses to regions with applications remaining in-line. Unreserved non-metro multi-family set-aside in Houston & Dallas becomes available for metro projects in those regions. Sec. 1372.0231(e)

May 1, 2015 - Multi-family local regions collapse to one local HFC "pot." Priority boost is given to priority two and three projects located in areas of the state where the median family income is below that of the state's average. Sec. 1372.0231(g)

August 7, 2015 - Single Family set-asides collapse. Sec. 1372.023(a), Sec. 1372.0222, Sec. 1372.0223

August 14, 2015 - All sub-ceilings collapse. Volume cap is reserved based upon lottery number. Priority remains a factor for residential rental projects.

November 13, 2015 - Last day to issue a reservation for 2015.

November 16 - December 31, 2015 - Any recycled volume cap will be designated for Traditional Carryforward.