Private Activity Bond Allocation Program
2022 Program Year

Notice Regarding 2022 PAB Lottery Application Deadline

The deadline to submit a 2022 PAB Application for participation in the 2022 PAB Lottery is 5:00 PM (CST) on October 20, 2021. Application received after 5:00 PM (CST) on October 20, 2021 will NOT be considered for participation in the 2022 PAB Lottery.

For questions regarding the PAB program, please email Bond Review Board Staff.

Important Dates

October 5 - 20, 2021 - Completed applications due to the Texas Bond Review Board for inclusion in the 2022 Lottery. Applications shall not be accepted before 8:00 AM October 5, 2021 and must be received by 5:00 PM October 20, 2021 in order to participant in the 2022 Lottery. Sec. 1372.028(b)

Non-Lottery applications received after 5:00 PM October 20, 2021 will receive a reservation in the order in which the applications are received. Sec. 1372.035

November 4, 2021 (10:00 AM) - PAB Lottery for 2022 Private Activity Bond allocations.

January 2, 2022 - First day of the 2022 program year

The earlier of close on 2021 carryforward or February 15, 2022 - deadline to file form 8328 with the IRS if in receipt of carryforward.

March 1, 2022 - 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)

July 15, 2022 - Housing Finance Corporations are no longer penalized as a result of the corporation's utilization percentage. Sec. 1372.0261(d)

August 7, 2022 - Single Family set-asides collapse. Sec. 1372.023(a), Sec. 1372.0222, Sec. 1372.0223

August 15, 2022 - All sub-ceilings collapse. Volume cap is reserved based upon lottery number. Priority remains a factor for residential rental projects lottery applications.

November 15, 2022- Last day to issue a reservation for 2022.

November 16 - December 31, 2022 - Any recycled volume cap will be designated for Traditional Carryforward.

December 23, 2022 - Last day to submit closing documents to the Bond Review Board for the 2022 Program Year.