Section 20. Description of the program

Latest version.

The authority may establish one or more programs pursuant to IRC § 25. Each program will be established by the authority when the executive director elects not to issue an amount of private activity bonds that the authority could have issued from its allocation of private activity bonds pursuant to IRC § 146 and to utilize that allocation to issue MCCs. Each instance of the executive director making that determination will result in a separate program.

Historical Notes

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.

Derived from Volume 31, Issue 09, eff. January 1, 2015.

                    
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