The authority is delegated exclusive control over the use and allocation of the volume cap described in Section 142(k) of the federal Internal Revenue Code, or successor provisions of the Internal Revenue Code. The board of the authority, by resolution, may use the volume cap for obligations issued by the authority or allocate the volume cap to any party.
(Added by Stats. 2012, Ch. 38, Sec. 37. (SB 1016) Effective June 27, 2012.)