§ 5132. Expiration of Carryforward Allocations.
4 CA ADC § 5132Barclays Official California Code of Regulations
4 CCR § 5132
§ 5132. Expiration of Carryforward Allocations.
The Committee will specify the expiration date of the carryforward Allocation in the Committee Resolution memorializing the grant of the Allocation. If any amount of the carryforward Allocation has not been used to issue Bonds or convert Bonds to Mortgage Credit Certificate Authority on or before the expiration date, the performance deposit will be forfeited to the Committee and the Committee may require the Issuer to transfer the carryforward Allocation to another approved Project by the same Issuer in accordance with section 5120. If the Committee does not require a transfer of the carryforward Allocation, the expiration date may be extended with the approval of the Executive Director until the Allocation expires pursuant to 26 U.S.C. section 146(f)(3) or to each subsequent deadline for submitting Applications to the Committee. At that time, the Committee may require the Issuer to transfer the carryforward Allocation to another approved Project by the same Issuer.
Credits
Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c), 8869.84(e), 8869.85(c) and 8869.86(a)(3), Government Code.
History
1. New section filed 7-12-2010 as an emergency pursuant to Government Code section 8869.94; operative 7-12-2010 (Register 2010, No. 29). A Certificate of Compliance must be transmitted to OAL by 1-10-2011 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 1-6-2011 as an emergency pursuant to Government Code section 8869.94; operative 1-6-2011 (Register 2011, No. 1). A Certificate of Compliance must be transmitted to OAL by 4-6-2011 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 4-1-2011 as an emergency pursuant to Government Code section 8869.94; operative 4-6-2011 (Register 2011, No. 13). A Certificate of Compliance must be transmitted to OAL by 7-5-2011 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 4-1-2011 order, including new section heading and amendment of section, transmitted to OAL 6-2-2011 and filed 7-1-2011 (Register 2011, No. 26).
5. Amendment of section heading filed 11-9-2015 as an emergency pursuant to Government Code section 8869.94; operative 11-9-2015 (Register 2015, No. 46). A Certificate of Compliance must be transmitted to OAL by 5-9-2016 or emergency language will be repealed by operation of law on the following day.
6. Certificate of Compliance as to 11-9-2015 order transmitted to OAL 1-27-2016 and filed 3-10-2016 (Register 2016, No. 11).
7. Editorial correction of History 6 (Register 2016, No. 25).
This database is current through 4/26/24 Register 2024, No. 17.
Cal. Admin. Code tit. 4, § 5132, 4 CA ADC § 5132
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