Colorado § 24-32-1702 Legislative declaration

Colorado Statutes

§ 24-32-1702 — Legislative declaration

Colorado·Title 24 Government·Art. Department of Local Affairs

The Internal Revenue Code of 1986,
as amended, limits the total amount of tax-exempt private activity bonds which may
be issued by any state and its political subdivisions in each year by imposing volume
caps. Said code allows each state to provide by law a formula for allocating the
state volume cap among the issuing authorities of the state. This part 17 is enacted
to establish an allocation formula for the state of Colorado which maximizes the
state's total tax-exempt private activity bond issuance authority and which provides
an orderly and equitable process of allocating such authority among issuing
authorities of this state.

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The Internal Revenue Code of 1986,
as amended, limits the total amount of tax-exempt private activity bonds which may
be issued by any state and its political subdivisions in each year by imposing volume
caps. Said code allows each state to provide by law a formula for allocating the
state volume cap among the issuing authorities of the state. This part 17 is enacted
to establish an allocation formula for the state of Colorado which maximizes the
state's total tax-exempt private activity bond issuance authority and which provides
an orderly and equitable process of allocating such authority among issuing
authorities of this state.

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