S.B. 2812 Summary

• Requires counties and issuers to submit quarterly reports to the Department of Budget and Finance on the status and use of their allocation of the annual state bond ceiling for private activity bonds.

• Prohibits authorization of special purpose revenue bonds requiring an allocation of the annual state ceiling between June 30, 2022 and December 31, 2028, unless specifically requested by the governor and approved by the legislature.

• Restricts any allocation of annual state bond ceiling to counties with populations exceeding 500,000 during the June 30, 2022 to December 31, 2028 period to use only for rental housing projects eligible for the low-income housing tax credit.

• Takes effect on July 1, 2050.