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California Debt Limit Allocation Committee

About CDLAC

Program Areas

Federal law limits how much tax-exempt debt a state can issue in a calendar year for Private Projects with a Qualified Public Benefit, with the cap determined by a population-based formula. CDLAC was created to set and allocate California’s annual debt ceiling, and administer the tax-exempt bond program to issue the debt.

Allocation is distributed among seven program areas. The Qualified Residential Rental Project Program assists developers of multifamily rental housing units, the Single-Family First-Time Homebuyer Program assists first-time homebuyers with their home purchase, the Home Improvement and Rehabilitation Program assists in the financing of alterations to an existing residence and/or assist in the financing of the acquisition of a recently rehabilitated property, the Exempt Facility Program helps finance water, solid waste disposal and waste recycling facilities; and the Industrial Development Bond Project Program helps construct or expand manufacturing facilities, and/or purchase new equipment.

Additionally, CDLAC allocates, if needed, to the Extra Credit Home Purchase Program, which helps teachers and school staff purchase a home and the Student Loan Program to help students and families pay for their higher education.

Fast Facts
Year to Date Through
January 2014

2014 State Debt Ceiling: $3,833,252,100

Multifamily Housing reservation: $1,250,000,000
Single-family Housing reservation: $900,000,000
Home Improvement and Rehabilitation reservation: $150,000,000
Industrial Development and Small Business reservation: $50,000,000 *
Exempt Facility reservation: $0

2014 Debt Ceiling Allocated, to date:

$63,536,146

Multifamily Housing

$13,536,146

  • Total number of residential rental units: 156 of which 154 will be restricted to households earning 60% or less of the applicable median family income

Single Family Housing

$0

  • Total number of first-time homebuyers: 0

Exempt Facilities

$0

(Water, Pollution Control and Recycling)

For more information, please see the CPCFA website.

Industrial Development and Small Business

* Available through CIDFAC

For more information, please see the CIDFAC website