Tribal Economic Development Bond Volume Cap is still available

 

National bond volume authority (volume cap) for Tribal Economic Development Bonds is available for allocation to federally recognized Indian tribal governments. This volume cap is available for tax-exempt bonds issued to finance qualified projects.

In 2009, Congress provided for $2 billion of volume cap for Tribal Economic Development Bonds through the American Recovery and Reinvestment Act of 2009. Currently, approximately $63 million of unused volume cap is available.

Notice 2012-48 (PDF) solicits applications for volume cap and provides related guidance on application requirements and forms to request volume cap allocations. Notice 2015-83 (PDF) modifies Notice 2012-48 and provides special rules for bonds issued under a “draw-down” loan structure.

Tribes may request an allocation of volume cap by following the application procedures provided in Notice 2012-48. The IRS will allocate available volume cap on a first-come, first-served basis by order of submission date.

Find additional information on IRS.gov at Published Volume Cap Limit for Tribal Economic Development Bonds.