(1)There are created the following allotment accounts:
(1)(a) the Single Family Housing Account, for which eligible issuing authorities are those authorized under the code and state statute to issue qualified mortgage bonds under Section 143 of the code;
(1)(b) the Student Loan Account, for which eligible issuing authorities are those authorized under the code and state statute to issue qualified student loan bonds under Section 144(b) of the code;
(1)(c) the Small Issue Bond Account, for which eligible issuing authorities are those authorized under the code and state statute to issue:
(1)(c)(i) qualified small issue bonds under Section 144(a) of the code;
(1)(c)(ii) qualified exempt facility bonds for qualified residential rental projects under Section 142(d) of the code; or
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(1) There are created the following allotment accounts:
(1)(a) the Single Family Housing Account, for which eligible issuing authorities are those authorized under the code and state statute to issue qualified mortgage bonds under Section 143 of the code;
(1)(b) the Student Loan Account, for which eligible issuing authorities are those authorized under the code and state statute to issue qualified student loan bonds under Section 144(b) of the code;
(1)(c) the Small Issue Bond Account, for which eligible issuing authorities are those authorized under the code and state statute to issue:
(1)(c)(i) qualified small issue bonds under Section 144(a) of the code;
(1)(c)(ii) qualified exempt facility bonds for qualified residential rental projects under Section 142(d) of the code; or
(1)(c)(iii) qualified redevelopment bonds under Section 144(c) of the code;
(1)(d) the Exempt Facilities Account, for which eligible issuing authorities are those authorized under the code and state statute to issue any bonds requiring an allocation of volume cap other than for purposes described in Subsection (1)(a), (b), or (c);
(1)(e) the Pool Account, for which eligible issuing authorities are those authorized under the code and state statute to issue any bonds requiring an allocation of volume cap; and
(1)(f) the Carryforward Account, for which eligible issuing authorities are those with projects or programs qualifying under Section 146(f) of the code.
(2) (2)(a) The volume cap shall be distributed to the allotment accounts on January 1 of each year on the following basis:
(2)(a)(i) 42% to the Single Family Housing Account;
(2)(a)(ii) 33% to the Student Loan Account;
(2)(a)(iii) 1% to the Exempt Facilities Account; and
(2)(a)(iv) 24% to the Small Issue Bond Account.
(2)(b) From July 1 to September 30 of each year, the board of review may transfer any unallocated volume cap from the Exempt Facilities Account or the Small Issue Bond Account to the Pool Account.
(2)(c) Upon written notification by the issuing authorities eligible for volume cap allocation from the Single Family Housing Account or the Student Loan Account that all or a portion of volume cap distributed into that allotment account will not be used, the board of review may transfer the unused volume cap to any other allotment account.
(2)(d) From October 1 to the third Friday of December of each year, the board of review shall transfer all unallocated volume cap into the Pool Account.
(2)(e) On the third Saturday of December of each year, the board of review shall transfer uncollected volume cap, or allocated volume cap for which bonds have not been issued prior to the third Saturday of December, into the Carryforward Account.
(2)(f) If the authority to issue bonds designated in any allotment account is rescinded by amendment to the code, the board of review may transfer any unallocated volume cap from that allotment account to any other allotment account.