Establishes an alternative formula for making volume ceiling allocations for private activity bonds.

The bill enacts the private activity bond allocation act to establish an alternative formula for making volume ceiling allocations. It sets aside one-third of the statewide ceiling as a bond reserve for local agencies and other issuers. The bill also creates a policy advisory panel to provide advice on the distribution of the statewide ceiling. It outlines procedures for allocation carryforward, recapture of unused allocations, and municipal reallocation. The bill includes provisions for reporting and monitoring the allocation process.

Establishes an alternative formula for making volume ceiling allocations for private activity bonds.

The bill enacts the private activity bond allocation act to establish an alternative formula for making volume ceiling allocations. It sets aside one-third of the statewide ceiling as a bond reserve for local agencies and other issuers. The bill also creates a policy advisory panel to provide advice on the distribution of the statewide ceiling. It outlines procedures for allocation carryforward, recapture of unused allocations, and municipal reallocation. The bill includes provisions for reporting and monitoring the allocation process.