PAB 2016 Volume Cap – Utah
The Private Activity Bond Authority (PAB) is Utah’s tax-exempt bonding authority creating a lower cost, long-term source of capital under the Federal Tax Act of 1986. The Federal Government allocates over $36 billion per year to states on a per capita basis, with Utah receiving $302,875,000 in 2016. Each state establishes its usage priorities by statute. The Utah State Legislature has distributed our volume cap into the various allotment accounts listed below:
|Allotment Account||Percentage||Dollar Amount|
|Single Family Mortgages||42%||$127,207,500|
|Student Loans||33%||$ 99,948,750|
|Small Issue Account*|
|Exempt Facilities||1%||$ 3,028,750|
* Allocation for the Small Issue Account is 24% of the total volume cap. By statute, volume cap is divided evenly for projects in the Multi-Family Housing and Manufacturing categories. Qualified Redevelopment Projects were approved for funding in 2011 out of this category, but no specific percent of the volume cap was assigned.
Distribution Chart of Volume Cap throughout the year.
For additional information on the Allotment Accounts, please click here.