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2023 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] .

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Alabama

Estimated State Cap
$608,915,520
Multifamily Allocation
TBD
2023 App Round Deadline
First-come, first-served
Allocation Process
First-come, first-served

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Alaska

Estimated State Cap
$358,845,000
Multifamily Allocation
TBD
2023 App Round Deadline
None
Allocation Process
First-come, first-served

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Arizona

Estimated State Cap
$883,103,640
Multifamily Allocation
TBD
2023 App Round Deadline
Feb. 15, 2022 (metro)
July 18, 2022 (rural and metro)
Aug. 1, 2022 (metro)
July 18, 2023 (remaining rural and metro)
Allocation Process
TBD

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Arkansas

Estimated State Cap
$365,476,440
Multifamily Allocation
$33,000,000
2023 App Round Deadline
N/A
Allocation Process
First-come, first-served

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California

Estimated State Cap
$4,683,521,040
Multifamily Allocation
$4,049,344,675
2023 App Round Deadline
Round 1: Feb. 7

Round 2: May 23

Round 3: Sept. 6
Allocation Process
Competitive point system

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Colorado

Estimated State Cap
$700,791,120
Multifamily Allocation
TBD
2023 App Round Deadline
PAB will be fully allocated via prior open and competitive rounds
Allocation Process
First-come, first-served

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Connecticut

Estimated State Cap
$435,144,600
Multifamily Allocation
$150,000,000
2023 App Round Deadline
N/A
Allocation Process
60% of the private activity bond volume cap is allocated to CHFA

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Delaware

Estimated State Cap
$358,845,000
Multifamily Allocation
N/A
2023 App Round Deadline
N/A
Allocation Process
First-come, first-served

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Florida

Estimated State Cap
$2,669,378,760
Multifamily Allocation
$325,000,000
2023 App Round Deadline
N/A
Allocation Process
First-come, first-served

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Georgia

Estimated State Cap
$1,309,545,120
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
TBD

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Hawaii

Estimated State Cap
$358,845,000
Multifamily Allocation
TBD
2023 App Round Deadline
N/A
Allocation Process
Competitive point system

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Idaho

Estimated State Cap
$358,845,000
Multifamily Allocation
No specific cap allocated
2023 App Round Deadline
Rolling basis
Allocation Process
First come, first served with a min bond cap

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Illinois

Estimated State Cap
$1,509,843,840
Multifamily Allocation
$250,000,000
2023 App Round Deadline
Apps are reviewed on a rolling basis
Allocation Process
First-come, first-served

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Indiana

Estimated State Cap
$819,964,440
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
First come, first served

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Iowa

Estimated State Cap
$384,062,040
Multifamily Allocation
30% allocated to "housing"
2023 App Round Deadline
No deadline
Allocation Process
First come, first served

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Kansas

Estimated State Cap
$358,845,000
Multifamily Allocation
Approx. $75 million per round
2023 App Round Deadline
Round 1: Jan. 6, 2023
Round 2: April 14, 2023
Round 3: July 14, 2023
Allocation Process
TBD

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Kentucky

Estimated State Cap
$571,477,200
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
First come, first served

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Louisiana

Estimated State Cap
$550,828,920
Multifamily Allocation
$112,620,618
2023 App Round Deadline
N/A -- open cycle
Allocation Process
First come, first served

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Maine

Estimated State Cap
$358,845,000
Multifamily Allocation
$200,000,000
2023 App Round Deadline
Applications are not being accepted as current applications processed exceed funding available
Allocation Process
First come, first served

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Maryland

Estimated State Cap
$739,759,200
Multifamily Allocation
N/A
2023 App Round Deadline
N/A
Allocation Process
First come, first served

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Massachusetts

Estimated State Cap
$837,836,880
Multifamily Allocation
N/A
2023 App Round Deadline
N/A
Allocation Process
First come, first served

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Michigan

Estimated State Cap
$1,204,093,560
Multifamily Allocation
$500,000,000 (might be carryforward as opposed to 2023 PAB cap)
2023 App Round Deadline
End of 2023
Allocation Process
Until demand increases

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Minnesota

Estimated State Cap
$686,092,080
Multifamily Allocation
$355,000,000
2023 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 on a set of priorities, as defined in the statute in the following order: Preservation project, 30% AMI residential rental project, 50% AMI residential rental project, 100% LIHTC project, 20% LIHTC project, any other residential rental project

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Mississippi

Estimated State Cap
$358,845,00
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
TBD

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Missouri

Estimated State Cap
$741,354,440
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
Competitive point system

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Montana

Estimated State Cap
$358,845,000
Multifamily Allocation
$0
2023 App Round Deadline
Ongoing
Allocation Process
First-come, first-served

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Nebraska

Estimated State Cap
$358,845,000
Multifamily Allocation
$70,000,000
2023 App Round Deadline
1/6/2023
Allocation Process
Competitive point system

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Nevada

Estimated State Cap
$381,332,640
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
TBD

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New Hampshire

Estimated State Cap
$358,845,000
Multifamily Allocation
Allocated on as needed basis between multifamily and single family
2023 App Round Deadline
Allocated on a rolling basis
Allocation Process
First-come, first-served

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New Jersey

Estimated State Cap
$1,111,403,880
Multifamily Allocation
N/A
2023 App Round Deadline
N/A
Allocation Process
NJHMFA submits a request to the state treasurer's office and they allocate

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New Mexico

Estimated State Cap
$358,845,000
Multifamily Allocation
$150,000,000
2023 App Round Deadline
Rolling basis
Allocation Process
First-come, first-served

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New York

Estimated State Cap
$2,361,258,120
Multifamily Allocation
$1,200,000,000
2023 App Round Deadline
TBD
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.

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North Carolina

Estimated State Cap
$1,283,876,760
Multifamily Allocation
N/A
2023 App Round Deadline
5/12/2023; 1/12/2024; applications submitted during open cycle period
Allocation Process
First-come, first-served

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North Dakota

Estimated State Cap
$358,845,000
Multifamily Allocation
All cap is available to MF, carryover is taken by single family housing
2023 App Round Deadline
First-come, first-served
Allocation Process
First-come, first-served

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Ohio

Estimated State Cap
$1,410,726,960
Multifamily Allocation
$1,077,750,000
2023 App Round Deadline
First come, first served
Allocation Process
First come, first served

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Oklahoma

Estimated State Cap
$482,376,000
Multifamily Allocation
$190,000,000
2023 App Round Deadline
45 days prior to OFHA board meetings if used with OK state credits: 1/12/23 and 6/29/23, revolving
Allocation Process
Statutory 15%

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Oregon

Estimated State Cap
$508,816,440
Multifamily Allocation
$407,849,180
2023 App Round Deadline
PAB is offered in conjunction with the 4% offering
Allocation Process
Open continuous non-competitive through 12/2021 and 12/2022 forward competitive

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Pennsylvania

Estimated State Cap
$1,556,640,960
Multifamily Allocation
$150,000,000 estimated
2023 App Round Deadline
TBD
Allocation Process
First come, first served

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Rhode Island

Estimated State Cap
$358,845,000
Multifamily Allocation
Hoping for $100,000,000
2023 App Round Deadline
12/23
Allocation Process
First-come, first-served

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South Carolina

Estimated State Cap
$633,916,080
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
TBD

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South Dakota

Estimated State Cap
$358,845,000
Multifamily Allocation
Hoping for $50,000,000 in 2023
2023 App Round Deadline
Apps accepted anytime
Allocation Process
First-come, first-served

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Tennessee

Estimated State Cap
$846,160,680
Multifamily Allocation
TBD
2023 App Round Deadline
Round one will be in the first quarter; round two is subject to availability
Allocation Process
2 rounds based on scoring system for bond experience, other sources of funds, and deepest rehab. We fund the highest scoring by a preference order in the bond guide.

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Texas

Estimated State Cap
$3,811,979,649
Multifamily Allocation
$960,000,000
2023 App Round Deadline
Lottery apps due 9/6/2022; waiting list apps are accepted monthly after lottery
Allocation Process
Lottery

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Utah

Estimated State Cap
$405,696,000
Multifamily Allocation
$44,061,270
2023 App Round Deadline
11/27/22, 2/16/23, 5/18/23, 8/17/23, 10/19/23
Allocation Process
Competitive point system

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Vermont

Estimated State Cap
$358,845,000
Multifamily Allocation
$50,000,000
2023 App Round Deadline
12/15/2022
Allocation Process
Cooperative negotiation among eligible parties

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Virginia

Estimated State Cap
$1,042,034,280
Multifamily Allocation
$408,000,000; all of the current years allocation is made available to multi-family initially
2023 App Round Deadline
The process is largely first-come, first-served and subject to successful loan underwriting.
Allocation Process
First-come, first-served

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Washington

Estimated State Cap
$934,294,320
Multifamily Allocation
$400,090,376
2023 App Round Deadline
3/29/2023
Allocation Process
Competitive point system

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West Virginia

Estimated State Cap
Estimated $358,845,000
Multifamily Allocation
TBD
2023 App Round Deadline
5/31/2023
Allocation Process
First-come, first-served

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Wisconsin

Estimated State Cap
$707,104,680
Multifamily Allocation
Volume cap not specifically allocated to multifamily
2023 App Round Deadline
No deadline for WHEDA issued bonds
Allocation Process
First-come, first-served

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Wyoming

Estimated State Cap
$358,845,000
Multifamily Allocation
TBD
2023 App Round Deadline
TBD
Allocation Process
TBD

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