Sign Up For Novogradac Industry Alert Emails

2022 State Bond Caps and Deadlines

Listed below are the scheduled deadlines for submitting tax-exempt bond applications and related information. We will continually update this list as new information becomes available.

If you would like to correct or update the information listed below please e-mail [email protected] .

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

Alabama

Estimated State Cap
$554,386,470
Multifamily Allocation
All of it will be allocated to multifamily housing
2022 App Round Deadline
First-come, first-served
Allocation Process
First-come, first-served

Back to top


Alaska

Estimated State Cap
$335,115,000
Multifamily Allocation
Unknown
2022 App Round Deadline
None
Allocation Process
First-come, first-served

Back to top


Arizona

Estimated State Cap
$800,394,760
Multifamily Allocation
$120,059,214 until March 31; unallocated cap available on first-come first-served basis after that.
2022 App Round Deadline
Open app process until bond capacity reached
Allocation Process
First-come, first-served

Back to top


Arkansas

Estimated State Cap
$335,115,000
Multifamily Allocation
10% of cap ($33,511,500) until Sept. 1, remainder of cap available Sept. 1 through Dec. 31
2022 App Round Deadline
No deadlines
Allocation Process
First-come, first-served

Back to top


California

Estimated State Cap
$4,316,161,960
Multifamily Allocation
$3,716,161,960
2022 App Round Deadline
Round 1: March 16

Round 2: Aug. 9
Allocation Process
Competitive point system

Back to top


Colorado

Estimated State Cap
$639,327,590
Multifamily Allocation
$225 million
2022 App Round Deadline
First business day of April, May, June, July, August, September, October, November
Allocation Process
First-come, first-served with threshold guidelines

Back to top


Connecticut

Estimated State Cap
$396,615,670
Multifamily Allocation
Minimum of 15% of cap ($58,492,350)
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Delaware

Estimated State Cap
$335,115,000
Multifamily Allocation
Based on demand, up to 100%
2022 App Round Deadline
Rolling
Allocation Process
First-come, first-served

Back to top


Florida

Estimated State Cap
$2,395,924,080
Multifamily Allocation
$574,606,020
2022 App Round Deadline
Varied
Allocation Process
First-come, first-served

Back to top


Georgia

Estimated State Cap
$1,187,952,260
Multifamily Allocation
$504,879,711
2022 App Round Deadline
TBD
Allocation Process
Competitive

Back to top


Hawaii

Estimated State Cap
$335,115,000
Multifamily Allocation
N/A
2022 App Round Deadline
Feb. 16, 2022
Allocation Process
Competitive point system

Back to top


Illinois

Estimated State Cap
$1,393,861,590
Multifamily Allocation
N/A
2022 App Round Deadline
Apps are reviewed on a rolling basis
Allocation Process
First-come, first-served

Back to top


Indiana

Estimated State Cap
$748,658,350
Multifamily Allocation
N/A
2022 App Round Deadline
Open app round
Allocation Process
First-come, first-served. Round closed June 30, 2022.

Back to top


Iowa

Estimated State Cap
$351,238,690
Multifamily Allocation
TBD
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Kentucky

Estimated State Cap
$496,033,340
Multifamily Allocation
TBA
2022 App Round Deadline
May 4, 2022
Allocation Process
First-come, first served open window app process, with an additional annual NOFA to allocate bond cap with other cap funding resources

Back to top


Louisiana

Estimated State Cap
$508,645,170
Multifamily Allocation
TBA
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Maine

Estimated State Cap
$335,115,000
Multifamily Allocation
TBA
2022 App Round Deadline
First-come, first-served
Allocation Process
First-come, first-served

Back to top


Maryland

Estimated State Cap
$678,164,190
Multifamily Allocation
N/A
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Massachusetts

Estimated State Cap
$768,319,530
Multifamily Allocation
N/A
2022 App Round Deadline
Combo of first-come, first-served & applicability of the project to the guidance in the QAP
Allocation Process
Combo of first-come, first-served & applicability of the project to the guidance in the QAP

Back to top


Michigan

Estimated State Cap
$1,105,589,210
Multifamily Allocation
N/A
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Minnesota

Estimated State Cap
Estimated $627,812,900
Multifamily Allocation
Estimated $207,694,174
2022 App Round Deadline
Housing pool – Applications must be received by the 2nd Tuesday of January and each Monday thereafter through the last Monday in July. Unified pool – Applications must be received by the 1st Monday in July and every other Monday through November.
Allocation Process
Lottery, with bonding allocation based upon a set of priorities, as defined in statute, in the following order: Preservation Project, 30% AMI Residential Rental Project (RRP), 50% AMI RRP, 100% LIHTC project, 20% LIHTC project, any other RRP

Back to top


Mississippi

Estimated State Cap
$335,000,000
Multifamily Allocation
N/A
2022 App Round Deadline
Anytime outside 9% LIHTC cycle (2022: April 18-22)
Allocation Process
First-come, first-served

Back to top


Missouri

Estimated State Cap
$678,500,570
Multifamily Allocation
TBD
2022 App Round Deadline
TBD
Allocation Process
First-come, first-served

Back to top


Montana

Estimated State Cap
$335,115,000
Multifamily Allocation
$93,273,565
2022 App Round Deadline
Ongoing
Allocation Process
First-come, first-served

Back to top


Nebraska

Estimated State Cap
$335,115,000
Multifamily Allocation
$70,000,000
2022 App Round Deadline
March 2022
Allocation Process
MF is competitive, all other pools are first-come, first-served

Back to top


Nevada

Estimated State Cap
$346,000,000
Multifamily Allocation
$0
2022 App Round Deadline
Accepted year-round
Allocation Process
First-come, first-served

Back to top


New Hampshire

Estimated State Cap
Total available: $568,535,000 as carryover to 2022; Estimate of new: $165,000,000
Multifamily Allocation
$97,830,000 of carryover cap. New 2022 cap available as needed.
2022 App Round Deadline
NA
Allocation Process
First-come, first-served

Back to top


New Jersey

Estimated State Cap
$335,115,000
Multifamily Allocation
$170,019,984
2022 App Round Deadline
NA
Allocation Process
NJHMFA ("the Agency") submits a request to the State Treasurer's Office and they allocate annual VC to the Agency.

Back to top


New Mexico

Estimated State Cap
$335,115,000
Multifamily Allocation
$211,115,000
2022 App Round Deadline
Rolling apps, no deadlines
Allocation Process
First-come, first-served

Back to top


New York

Estimated State Cap
Not available
Multifamily Allocation
Not available
2022 App Round Deadline
Rolling applications
Allocation Process
PAB is split between New York State agencies, local issuers, and a statewide reserve. Actual allocations made by the Division of the Budget.

Back to top


North Carolina

Estimated State Cap
$1,148,332,680
Multifamily Allocation
Unknown at this time as there is increasing interest in using bond cap for non-housing activities
2022 App Round Deadline
Full app first round: 5/13/2022; Open round: 9/30/2022
Allocation Process
First-come, first-served

Back to top


North Dakota

Estimated State Cap
$335,115,000
Multifamily Allocation
TBD
2022 App Round Deadline
First-come, first-served
Allocation Process
First-come, first-served

Back to top


Ohio

Estimated State Cap
$1,105,230,330
Multifamily Allocation
$600,000,000 (subject to change)
2022 App Round Deadline
The deadline to file with the IRS is 2/15/22. TEBs are normally paired with 4% LIHTC applications, which OHFA accepts quarterly in January, April, July, and October.
Allocation Process
First-come, first-served

Back to top


Oklahoma

Estimated State Cap
$335,115,000
Multifamily Allocation
$100,000,000
2022 App Round Deadline
Rolling deadlines; apps paired with state credits deadlines are the same as 9% apps
Allocation Process
First-come, first-served

Back to top


Oregon

Estimated State Cap
$750,000,000
Multifamily Allocation
$750,000,000
2022 App Round Deadline
N/A
Allocation Process
First-come, first-served

Back to top


Pennsylvania

Estimated State Cap
$1,250,000,000
Multifamily Allocation
Not allocated between SF & MF until carryover
2022 App Round Deadline
Preliminary Applications: 4/29/2022; Underwriting Applications: 6/30/2022
Allocation Process
First-come, first-served

Back to top


Rhode Island

Estimated State Cap
$335,115,000
Multifamily Allocation
$50,000,000
2022 App Round Deadline
N/A
Allocation Process
State of RI allocation

Back to top


South Carolina

Estimated State Cap
$573,000,000 (state cap estimate, SC Housing does not receive a dedicated amount)
Multifamily Allocation
TBD
2022 App Round Deadline
TBD
Allocation Process
SC Housing has used funding rounds; State Fiscal Accountability Authority has used first-come, first-served

Back to top


South Dakota

Estimated State Cap
$335,115,000
Multifamily Allocation
2022 App Round Deadline
Apps accepted anytime
Allocation Process
First-come, first-served

Back to top


Tennessee

Estimated State Cap
TBD
Multifamily Allocation
$700-$750 Million
2022 App Round Deadline
There will be up to three cycles, one in March and then another May and another later in the year
Allocation Process
2021 is the last year for first-come, first-served

Back to top


Texas

Estimated State Cap
$3,500,000,000
Multifamily Allocation
$855,000,000
2022 App Round Deadline
Lottery apps due 10/20/2021; waiting list apps are first-come, first-served after lottery
Allocation Process
Lottery

Back to top


Utah

Estimated State Cap
$357,486,690
Multifamily Allocation
TBD
2022 App Round Deadline
Rolling
Allocation Process
Competitive point system

Back to top


Vermont

Estimated State Cap
$335,115,000
Multifamily Allocation
$50,000,000
2022 App Round Deadline
12/15/2021
Allocation Process
Cooperative negotiation among eligible parties

Back to top


Virginia

Estimated State Cap
The 2022 bond cap allocated to VHDA is estimated to be at least $406,333,629.90. This assumes no decrease in state population and no change to the Virginia allocation formula.
Multifamily Allocation
Estimated to be at least $406 million. Typically, all of the current year’s allocation is made available to multi-family initially.
2022 App Round Deadline
The process is largely first-come, first-served and subject to successful loan underwriting.
Allocation Process
First-come, first-served

Back to top


Washington

Estimated State Cap
$854,361,750
Multifamily Allocation
$700,000,000
2022 App Round Deadline
3/9/2021
Allocation Process
Competitive point system

Back to top


West Virginia

Estimated State Cap
The state of WV receives the small state minimum of $335,115,000allocation in 2022. Therefore, we do not expect a significant change from the $129,998,000 statutory allocation the West Virginia Housing Development Fund received in 2021.
Multifamily Allocation
$50,000,000
2022 App Round Deadline
None
Allocation Process
First-come, first-served

Back to top


Wisconsin

Estimated State Cap
$335,115,000
Multifamily Allocation
Not specifically allocated
2022 App Round Deadline
Expected application deadline of September or October for bond issues completed by local issuers. No deadline for WHEDA-issued bonds.
Allocation Process
First-come, first-served

Back to top


Learn more about Novogradac's expertise and many services