Qualified Energy Conservation Bonds (QECBs) were first authorized by Congress in 2008 with a national volume cap limit of $800 million. The American Recovery and
Reinvestment Act of 2009 (ARRA) increased the QECB volume cap by $2.4 billion to a total of $3.2 billion. Texas was allocated
The state awarded allocations to large municipalties, issuers may apply to the state for any remaining authority.