1. (a) The following types of entities may file an Application: Any state or local governmental agency, joint powers authority (JPA) applying for bond allocation for a Project that will be located entirely within the geographical boundaries of one or more of the JPA members (except for a Project described in Government Code section 6586.5(c)), special district, nonprofit public benefit corporation that issues only student loan Bonds, or any other public agency that is empowered to issue debt. The Issuer of the Qualified Private Activity Bonds or Mortgage Credit Certificates must be the Applicant.
2. (b) Where the Applicant is administering a Single Family Housing Program on behalf of one or more jurisdictions, the Applicant must submit the Application to the Committee. The Applicant must also obtain, and provide to the Committee with its Application, a publicly adopted resolution or cooperative agreement from each jurisdiction participating in the Applicant's program that explicitly grant authority to the Applicant to conduct the program in the participant's jurisdiction.
3. (c) To be eligible to receive CDLAC bond allocation, all Applicants must submit written Bond Issuance and Post Issuance Compliance Policies for each State Ceiling Pool they request. These policies must be reviewed by counsel having expertise with the federal and state laws pertaining to the issuance or conversion and post-closing compliance of private activity conduit bonds for consistency with applicable federal and state laws. Such review will be documented via a letter from the respective counsel indicating the review has occurred. Additionally, for all Applicants, the policies must be accompanied by a resolution signed by the appropriate governing body formally adopting the policies. If the governing body has delegated approval authority on such matters to the organization's Executive Director, Housing Director or Finance Director, approval by the delegated individuals will suffice. To the extent contractors will be providing services on behalf of an Applicant, the policies should clarify the relationship between the contractor and the Applicant and what, if any, rights the contractor has to income and obligations generated from the issuance activity. CDLAC will review these policies to ensure the legal review has occurred, appropriate approval documentation is in place and for consistency with the CDLAC regulations. CDLAC will document their formal approval. All Applicant policies must be reviewed and re-approved at least every 5 years thereafter.
4. (d) Subject to appeal under Section 5005, CDLAC shall not accept Bond Applications on behalf of a Project Sponsor with a QRRP Bond Default or bankruptcy in the last three (3) years or from a Bond Issuer with three (3) or more QRRP Bond Defaults in the last five (5) years.
5. (e) All projects receiving a bond allocation are required to have a Fiscal Agent or trustee to facilitate in the reporting of the Annual Debt Transparency Reports (ADTR) to the California Debt and Investment Advisory Commission.

Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8855(k), 8869.84(f), 8869.84(g), 8869.85(a), 8869.85(b), 8869.88 and 8869.89, Government Code.

History

1. Renumbering of section 5031 to section 5002, including amendment of subsection (c), new subsection (d) and subsection relettering, filed 2-4-2026; operative upon adoption by the California Debt Limit Allocation Committee on 12-10-2025 pursuant to Government Code section 8869.94(c). Submitted to OAL for filing and printing only pursuant to Government Code section 11343.8 (Register 2026, No. 6).