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2024 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

Est. $158,000,000

Multifamily Allocation

TBD

2024 App Round Deadline

The application cycle typically occurs on or about March 1 of each year and ends on Nov. 1 of each year. AHFA will not accept applications outside of the application cycle.

Allocation Process

First come, first served

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Alaska

Estimated State Cap

$0

Multifamily Allocation

0

2024 App Round Deadline

None

Allocation Process

First come, first served

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Arkansas

Estimated State Cap

$370,000,000

Multifamily Allocation

$370,000,000

2024 App Round Deadline

No deadline

Allocation Process

First-come, first-served

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California

Estimated State Cap

$4,878,667,750

Multifamily Allocation

Pending Committee approval

2024 App Round Deadline

Tentatively April 23, 2024 (Round 1) and August 27, 2024 (Round 2)

Allocation Process

Competitive point system

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Colorado

Estimated State Cap

Total State cap to be $700,000,000; CHFA is estimated to receive $345,000,000 of that cap.

Multifamily Allocation

Similar to 2023, approximately $575M of the total $700M state allocation will go to multifamily housing.

2024 App Round Deadline

Sept. 15, 2024

Allocation Process

Competitive state credit round with pairing of federal 4% credits to winners along with PAB to meet 50% test.

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Connecticut

Estimated State Cap

$398,000,000

Multifamily Allocation

$127,000,000

2024 App Round Deadline

 

Allocation Process

First come, first served

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D.C.

Estimated State Cap

$378,230,000

Multifamily Allocation

$378,230,000

2024 App Round Deadline

Two rounds, deadlines TBD in January and July

Allocation Process

Competitive point system

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Florida

Estimated State Cap

$700,000,000

Multifamily Allocation

$450,000,000

2024 App Round Deadline

Oct. 3, 2023, for SAIL Financing of Affordable Multifamily Housing Developments

Allocation Process

Competitive point system - with a Request for Applications (RFA) competitive process, however, when allocation is available, we open the noncompetitive application on a fist come, first-fist served basis.

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Hawaii

Estimated State Cap

$378,230,000 for the entire State of Hawaii of which $227,089,292 is projected for assignment to the Hawaii Housing Finance and Development Corporation.

Multifamily Allocation

100%

2024 App Round Deadline

Feb. 16, 2024

Allocation Process

Competitive Point System

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Idaho

Estimated State Cap

$378,230,000 (state minimum)

Multifamily Allocation

In Idaho there is not a specific allocation made to MF housing. The Idaho Department of Commerce oversees the bond cap. As applications are received and projects work towards closing, IHFA requests the necessary project bond cap from Commerce in order to close the tax-exempt MF housing bond.

2024 App Round Deadline

Rolling basis; first-come, first served

Allocation Process

First-come, first served with a minimum point system

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Illinois

Estimated State Cap

$500,000,000

Multifamily Allocation

$250,000,000

2024 App Round Deadline

Rolling basis

Allocation Process

First come, first served

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Indiana

Estimated State Cap

$850,000,000

Multifamily Allocation

TBD

2024 App Round Deadline

Fall 2024

Allocation Process

Competitive point system

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Iowa

Estimated State Cap

Assuming a 0.10% increase in population from last year, Iowa’s estimated 2024 tax-exempt bond cap would be $384,446,160.

Multifamily Allocation

$115,333,848

2024 App Round Deadline

Oct. 31, 2024 4:30 p.m. CT for LIHTC tax-exempt bond applications.

Allocation Process

First-come, first-served

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Kansas

Estimated State Cap

$360,000,000

Multifamily Allocation

$280,000,000

2024 App Round Deadline

Feb. 9, 2024 Round 1 Application due date
May 3, 2024 Round 1 approval announcement
July 26, 2024 Round 2 application due date
Oct. 18, 2024 Round 2 application approval announcement

Allocation Process

Competitive point system

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Kentucky

Estimated State Cap

$200-$250,000,000

Multifamily Allocation

Typically around 50%, estimate $125,000,000

2024 App Round Deadline

To be determined

Allocation Process

Notice of Funding Availability (NOFA)

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Louisiana

Estimated State Cap

$573,780,125

Multifamily Allocation

$114,756,025

2024 App Round Deadline

N/A – Open Cycle

Allocation Process

First-come, first-served

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Maryland

Estimated State Cap

N/A

Multifamily Allocation

N/A

2024 App Round Deadline

N/A

Allocation Process

First-come, first-served

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Michigan

Estimated State Cap

$900,000,000

Multifamily Allocation

$600,000,000

2024 App Round Deadline

Spring 2024

Allocation Process

Need and current priorities

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Mississippi

Estimated State Cap

$320,000,000

Multifamily Allocation

$800,000

2024 App Round Deadline

April 1-5

Allocation Process

First-come, first-served

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Missouri

Estimated State Cap

$745,428,680

Multifamily Allocation

Unknown

2024 App Round Deadline

Round one of 4% applications were due on Sept. 22, 2023. Round two of 4% applications due Jan. 5, 2024. Round three of 4% applications due April 5, 2024. Round four of 4% applications due July 5, 2024.

Allocation Process

Competitive point system when paired with state 4%, first-come first served otherwise

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New Hampshire

Estimated State Cap

$189,000,000

Multifamily Allocation

Allocated on an as needed basis between multifamily and single family

2024 App Round Deadline

Allocated on a rolling basis

Allocation Process

First come, first served

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New Jersey

Estimated State Cap

No allocation of 2024 Volume cap is expected.

Multifamily Allocation

N/A

2024 App Round Deadline

N/A

Allocation Process

NJHMFA (“the Agency”) submits a request to the State Treasurer’s Office and they allocate the Annual Volume Cap to the Agency.

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New Mexico

Estimated State Cap

$378,230,000

Multifamily Allocation

$210,345,000

2024 App Round Deadline

Rolling applications

Allocation Process

First-come, first-served

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New York

Estimated State Cap

Estimated at $2,450,000,000

Multifamily Allocation

Estimated at $1,200,000,000

2024 App Round Deadline

It is a rolling application.

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

$1,337,371,625

Multifamily Allocation

$1,337,371,625

2024 App Round Deadline

Full application May 10, 2024, and Jan. 10, 2025

Allocation Process

First come, first served

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North Dakota

Estimated State Cap

Same as 2023

Multifamily Allocation

$50,000,000

2024 App Round Deadline

First come, first served

Allocation Process

First come, first served

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Ohio

Estimated State Cap

$2,730,000,000 (includes previous year’s carry forward amounts)

Multifamily Allocation

$1,300,000,000 (includes previous year’s carry forward amounts)

2024 App Round Deadline

Nov. 15

Allocation Process

First come, first served

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Oklahoma

Estimated State Cap

$168,199,107 (carryforward)

Multifamily Allocation

$168,199,107

2024 App Round Deadline

Rolling deadline

Allocation Process

First-come, first-served

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Oregon

Estimated State Cap

$530,769,375

Multifamily Allocation

$450,000,000

2024 App Round Deadline

Evaluationg applications for 2024 allocations now

Allocation Process

Competitive readiness rhreshold, rank and award order prioritization system.

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Pennsylvania

Estimated State Cap

$750,000,000

Multifamily Allocation

$225,000,000

2024 App Round Deadline

For a development to be considered for a reservation of 4% Tax Credits with Tax-Exempt Bonds in 2024, the entire Application package, including all exhibits, must be received by the Agency no later than 3:00 p.m. on February 29, 2024 (or other such deadline as may be established by the Agency on its website).

Allocation Process

First-come, first-served

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South Dakota

Estimated State Cap

$378,230,000

Multifamily Allocation

Estimated $80,000,000 to $100,000,000

2024 App Round Deadline

First come, first served

Allocation Process

First come, first served

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Texas

Estimated State Cap

$3,700,000,000

Multifamily Allocation

$985,000,000

2024 App Round Deadline

Oct. 20, 2023 - lottery deadline for 2024. Applications submitted after this date will be added to the Waiting List for a bond reservation.

Allocation Process

Lottery

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Vermont

Estimated State Cap

$154,000,000

Multifamily Allocation

$50,000,000

2024 App Round Deadline

Bond credit projects are be processed on a rolling basis.

Allocation Process

First come, first served

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Virginia

Estimated State Cap

$448,074,740

Multifamily Allocation

Estimated to be at least $448,000,000

2024 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

$976,610,000

Multifamily Allocation

$410,176,200

2024 App Round Deadline

Jan. 31, 2024 for balance of state, projects located in King County are put on a tiered allocation list and will apply once ready to close and all funding is in place.

Allocation Process

Washington's Legislature has established in statute a formula for initial allocations - set-asides of cap authority - for each category. After July 1, unused cap from any category may be reallocated to any other category. However, 50 percent of any unused cap is prioritized for housing.

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Wisconsin

Estimated State Cap

$360,000,000

Multifamily Allocation

Volume cap is not allocated specifically to multifamily

2024 App Round Deadline

There is no deadline for WHEDA issued bonds

Allocation Process

First come, first served

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Wyoming

Estimated State Cap

$90,000,000

Multifamily Allocation

0

2024 App Round Deadline

Sept. 30, 2024

Allocation Process

Non-competitive

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