{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/15.2-5002.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/15.2-5002.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/15.2-5002.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/15.2-5002.html"}],"law_id":348538,"edition_id":2,"section_id":348538,"structure_id":49986,"section_number":"15.2-5002","catch_line":"Allocation of state ceiling for 2008 and beyond","history":"1987, c. 306, \u00a7 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997, c. 587; 1998, cc. 39, 784; 2008, c. 445.","full_text":"This section shall apply to all private activity bonds issued by issuing authorities during 2008 and in years subsequent to 2008. The state ceiling for these calendar years shall be allocated as follows:\n\n1\n\n“Housing.” For calendar years 2008 and beyond, an amount equal to 57 percent of the Virginia state ceiling on private activity bonds shall be set aside for single family and multifamily housing bonds. The housing portion of the state ceiling shall be divided between local housing authorities and the Virginia Housing Development Authority. The bond authority allocated to these issuers shall be distributed as follows:\n\t\t\tLocal Housing Authorities\n\n\t\t\t14%\n\n\t\t\tVirginia Housing Development Authority\n\n\t\t\t43%\n\n\t\t\tTotal Housing Allocation\n\n\t\t\t57%\n\n2\n\n“Industrial Development.” For calendar years 2008 and beyond, an amount equal to 25 percent of the Virginia state ceiling on private activity bonds shall be set aside for the issuance of industrial development bonds for manufacturing and exempt facilities; provided, however, that in the event that on July 1, 2008, the amount of private activity bonds allocated since January 1, 2008, for manufacturing and exempt facilities pursuant to the guidelines established under § 15.2-5003 shall have exceeded such 25 percent amount, the amount set aside for the Virginia Housing Development Authority under this section for calendar year 2008 shall be reduced by the amount of such excess, but in no event shall the amount of private activity bonds so allocated exceed 41 percent of the Virginia state ceiling on private activity bonds for calendar year 2008.\n\n3\n\n“State allocation.” For calendar years 2008 and beyond, an amount equal to eighteen percent of the Virginia state ceiling on private activity bonds shall be set aside for state issuing authorities for allocations to housing and to exempt projects and manufacturing facilities of state and regional interests as determined by the Governor.\n\n","order_by":null,"text":{"0":{"id":1299526,"text":"This section shall apply to all private activity bonds issued by issuing authorities during 2008 and in years subsequent to 2008. The state ceiling for these calendar years shall be allocated as follows:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":1299527,"text":"“Housing.” For calendar years 2008 and beyond, an amount equal to 57 percent of the Virginia state ceiling on private activity bonds shall be set aside for single family and multifamily housing bonds. The housing portion of the state ceiling shall be divided between local housing authorities and the Virginia Housing Development Authority. The bond authority allocated to these issuers shall be distributed as follows:\n\t\t\tLocal Housing Authorities\t\t\t14%\t\t\tVirginia Housing Development Authority\t\t\t43%\t\t\tTotal Housing Allocation\t\t\t57%","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":1299528,"text":"“Industrial Development.” For calendar years 2008 and beyond, an amount equal to 25 percent of the Virginia state ceiling on private activity bonds shall be set aside for the issuance of industrial development bonds for manufacturing and exempt facilities; provided, however, that in the event that on July 1, 2008, the amount of private activity bonds allocated since January 1, 2008, for manufacturing and exempt facilities pursuant to the guidelines established under § 15.2-5003 shall have exceeded such 25 percent amount, the amount set aside for the Virginia Housing Development Authority under this section for calendar year 2008 shall be reduced by the amount of such excess, but in no event shall the amount of private activity bonds so allocated exceed 41 percent of the Virginia state ceiling on private activity bonds for calendar year 2008.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":1299529,"text":"“State allocation.” For calendar years 2008 and beyond, an amount equal to eighteen percent of the Virginia state ceiling on private activity bonds shall be set aside for state issuing authorities for allocations to housing and to exempt projects and manufacturing facilities of state and regional interests as determined by the Governor.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":49986,"edition_id":2,"name":"Private Activity Bonds","identifier":"50","label":"chapter","depth":3,"order_by":8,"parent_id":49964,"metadata":{"child_laws":6,"child_structures":0},"date_created":"2026-08-02 02:19:26","date_modified":"2026-08-02 12:29:51","permalink":{"id":1385431,"object_type":"structure","relational_id":49986,"identifier":"50","token":"15.2\/IV\/50","url":"\/15.2\/IV\/50\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49964,"edition_id":2,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":4,"parent_id":49831,"metadata":{"child_laws":721,"child_structures":68},"date_created":"2026-08-02 02:19:12","date_modified":"2026-08-02 12:29:48","permalink":{"id":1384899,"object_type":"structure","relational_id":49964,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49831,"edition_id":2,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":46,"parent_id":null,"metadata":{"child_laws":2297,"child_structures":225},"date_created":"2026-08-02 02:16:22","date_modified":"2026-08-02 12:29:22","permalink":{"id":1378281,"object_type":"structure","relational_id":49831,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":348536,"structure_id":49986,"section_number":"15.2-5000","catch_line":"Definitions","url":"\/15.2-5000\/","token":"15.2\/IV\/50\/15.2-5000","metadata":false},{"id":348537,"structure_id":49986,"section_number":"15.2-5001","catch_line":"Purpose of chapter","url":"\/15.2-5001\/","token":"15.2\/IV\/50\/15.2-5001","metadata":false},{"id":348538,"structure_id":49986,"section_number":"15.2-5002","catch_line":"Allocation of state ceiling for 2008 and beyond","url":"\/15.2-5002\/","token":"15.2\/IV\/50\/15.2-5002","metadata":false},{"id":348539,"structure_id":49986,"section_number":"15.2-5003","catch_line":"Administration","url":"\/15.2-5003\/","token":"15.2\/IV\/50\/15.2-5003","metadata":false},{"id":348540,"structure_id":49986,"section_number":"15.2-5004","catch_line":"Reallocation of bond authority","url":"\/15.2-5004\/","token":"15.2\/IV\/50\/15.2-5004","metadata":false},{"id":348541,"structure_id":49986,"section_number":"15.2-5005","catch_line":"Changes by the federal government","url":"\/15.2-5005\/","token":"15.2\/IV\/50\/15.2-5005","metadata":false}],"previous_section":{"id":348537,"structure_id":49986,"section_number":"15.2-5001","catch_line":"Purpose of chapter","url":"\/15.2-5001\/","token":"15.2\/IV\/50\/15.2-5001","metadata":false},"next_section":{"id":348539,"structure_id":49986,"section_number":"15.2-5003","catch_line":"Administration","url":"\/15.2-5003\/","token":"15.2\/IV\/50\/15.2-5003","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5002\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 306 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1990, chapter 299; in 1995, chapters 359<\/a> and 384<\/a>; in 1997, chapter 587<\/a>; in 1998, chapters 39<\/a> and 784<\/a>; in 2008, chapter 445<\/a>.<\/p>","references":[{"id":348539,"section_number":"15.2-5003","catch_line":"Administration","order_by":null,"url":"\/15.2-5003\/"},{"id":348540,"section_number":"15.2-5004","catch_line":"Reallocation of bond authority","order_by":null,"url":"\/15.2-5004\/"}],"refers_to":[{"id":348539,"section_number":"15.2-5003","catch_line":"Administration","order_by":null,"url":"\/15.2-5003\/"}],"permalink":{"id":1385441,"object_type":"law","relational_id":348538,"identifier":"15.2-5002","token":"15.2\/IV\/50\/15.2-5002","url":"\/15.2-5002\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/15.2-5002\/","token":"15.2\/IV\/50\/15.2-5002","dublin_core":{"Title":"Allocation of state ceiling for 2008 and beyond","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5002","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

This section shall apply to all private activity bonds<\/span> issued by issuing authorities during 2008 and in years subsequent to 2008. The state ceiling<\/span> for these calendar years shall be allocated as follows:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> “Housing.” For calendar years 2008 and beyond, an amount equal to 57 percent of the Virginia state ceiling<\/span> on private activity bonds<\/span> shall be set aside for single family and multifamily housing bonds<\/span>. The housing portion of the state ceiling<\/span> shall be divided between local housing authorities and the Virginia Housing Development Authority. The bond<\/span> authority allocated to these issuers shall be distributed as follows:\n\t\t\tLocal Housing Authorities

\t\t\t14%

\t\t\tVirginia Housing Development Authority

\t\t\t43%

\t\t\tTotal Housing Allocation

\t\t\t57% <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> “Industrial Development.” For calendar years 2008 and beyond, an amount equal to 25 percent of the Virginia state ceiling<\/span> on private activity bonds<\/span> shall be set aside for the issuance of industrial development bonds<\/span> for manufacturing and exempt facilities; provided, however, that in the event that on July 1, 2008, the amount of private activity bonds<\/span> allocated since January 1, 2008, for manufacturing and exempt facilities pursuant to the guidelines established under § 15.2-5003<\/a> shall have exceeded such 25 percent amount, the amount set aside for the Virginia Housing Development Authority under this section for calendar year 2008 shall be reduced by the amount of such excess, but in no event shall the amount of private activity bonds<\/span> so allocated exceed 41 percent of the Virginia state ceiling<\/span> on private activity bonds<\/span> for calendar year 2008. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> “State allocation.” For calendar years 2008 and beyond, an amount equal to eighteen percent of the Virginia state ceiling<\/span> on private activity bonds<\/span> shall be set aside for state issuing authorities for allocations to housing and to exempt projects<\/span> and manufacturing facilities of state and regional interests as determined by the Governor. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nALLOCATION OF STATE CEILING FOR 2008 AND BEYOND (\u00a7 15.2-5002)\n\nThis section shall apply to all private activity bonds issued by issuing\nauthorities during 2008 and in years subsequent to 2008. The state ceiling for\nthese calendar years shall be allocated as follows:\n\n1. “Housing.” For calendar years 2008 and beyond, an amount equal to\n57 percent of the Virginia state ceiling on private activity bonds shall be set\naside for single family and multifamily housing bonds. The housing portion of\nthe state ceiling shall be divided between local housing authorities and the\nVirginia Housing Development Authority. The bond authority allocated to these\nissuers shall be distributed as follows:\n\t\t\tLocal Housing Authorities\t\t\t14%\t\t\tVirginia Housing Development\nAuthority\t\t\t43%\t\t\tTotal Housing Allocation\t\t\t57%\n\n2. “Industrial Development.” For calendar years 2008 and beyond, an\namount equal to 25 percent of the Virginia state ceiling on private activity\nbonds shall be set aside for the issuance of industrial development bonds for\nmanufacturing and exempt facilities; provided, however, that in the event that\non July 1, 2008, the amount of private activity bonds allocated since January 1,\n2008, for manufacturing and exempt facilities pursuant to the guidelines\nestablished under § 15.2-5003 shall have exceeded such 25 percent amount,\nthe amount set aside for the Virginia Housing Development Authority under this\nsection for calendar year 2008 shall be reduced by the amount of such excess,\nbut in no event shall the amount of private activity bonds so allocated exceed\n41 percent of the Virginia state ceiling on private activity bonds for calendar\nyear 2008.\n\n3. “State allocation.” For calendar years 2008 and beyond, an amount\nequal to eighteen percent of the Virginia state ceiling on private activity\nbonds shall be set aside for state issuing authorities for allocations to\nhousing and to exempt projects and manufacturing facilities of state and\nregional interests as determined by the Governor.\n\nHISTORY: 1987, c. 306, \u00a7 15.1-1399.14; 1990, c. 299; 1995, cc. 359, 384; 1997,\nc. 587; 1998, cc. 39, 784; 2008, c. 445.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}