Prior to January 1 : The Division determines the total amount of volume cap available in the coming calendar year for those private activity bonds which require an allocation (the “state volume limitation") in accordance with formula set forth in the Code.

January 1 : The Division allocates the state volume limitation among the statutorily created allocation pools as follows:

• 50% to the Regional Affordable Housing Allocation Pool.
• 25% to the Florida Housing Finance Corporation Pool.
• 25% to the Economic Development Allocation Pool.

May 1 : Deadline to submit Notices of Intent to Issue to receive Confirmation from the Economic Development Allocation Pool prior to June 1.

May 15 : In the event that requests for allocation exceed the state volume limitation in the Economic Development Allocation Pool on May 1, the deadline for the Secretary of Commerce to decide the order in which Notices of Intent to Issue will receive Confirmations from the Division.

June 1 :

• The Regional Affordable Housing Allocation Pool dissolves and the unused portion of the state volume cap therein is transferred to the Statewide Affordable Housing Allocation Pool.
• Deadline for FHFC to assign a portion of the state volume cap in the Florida Housing Finance Corporation Pool to the Affordable Housing Allocation Pools.

September 30 : All pending requests in any Affordable Housing Allocation Pool, the Florida Housing Finance Corporation Pool, or the Economic Development Allocation Pool expire (unless the Issuer requests a Carryforward Confirmation from the Division at least 3 business days before September 30th).

October 1 : The Statewide Affordable Housing Allocation Pool, the Florida Housing Finance Corporation Pool, and the Economic Development Allocation Pool dissolve and the unused portion of the state volume cap therein is transferred to the State Allocation Pool.

November 30 : All pending requests in the State Allocation Pool and Confirmations expire (unless the Issuer requests a Carryforward Confirmation from the Division at least 3 business days before November 30th).

December 1 : The State Allocation Pool dissolves and the unused portion of the state volume cap therein is transferred to the Carryforward Allocation Pool.

December 15 of each year, or, if December 15 is not a business day, the business day before: Deadline to submit a request for a Carryforward Confirmation from the Carryforward Allocation Pool.

The first business day after December 15 : The Division issues Carryforward Confirmations, subject to the availability of state volume cap in the Carryforward Allocation Pool, pursuant to the provisions of Section 159.8091(3), Florida Statutes. Those Issuers that did not received Carryforward Confirmations and still desire volume cap must submit new Notices of Intent to Issue in the next calendar year.