Florida Florida Statutes

§ 159.8052 — Procedures for evaluating notices of intent to issue; confirmations; requirements; limitations

FS § 159.8052Ch. 159

Statute text

(1)(a) All notices of intent to issue filed with the division must be evaluated for compliance with this part. Any notice of intent to issue that conforms to the requirements of s. 159.8051 is eligible to receive a confirmation and must be approved, subject to the availability of a sufficient amount of state volume limitation in the appropriate pool. Each business day, the division shall compute the state volume limitation in the pools for which approved notices of intent to issue were received on the previous business day. The division shall issue confirmations, subject to the availability of a sufficient amount of state volume limitation in the appropriate pool. The amount of confirmation, if there is sufficient state volume limitation available to the issuer in the appropriate pool, must be in the amount requested in the approved notice of intent to issue. If the amount of state volume limitation available to the issuer in the appropriate pool is less than the amount requested in the approved notice of intent to issue, the division must issue confirmations in the order of priority established in paragraph (b) until the available state volume limitation in each such applicable pool is exhausted. The division shall maintain continuous records of the cumulative amount of state volume limitation for which confirmations have been granted pursuant to this section.

(b)If the division determines that the aggregate amount of state volume limitation requested in notices of intent to issue received by noon of the previous business day exceeds the state volume limitation available to such issuers in the applicable pool, the division must assign a consecutive number to the notice of intent to issue requesting allocation from such pool, draw such numbers randomly to establish the priority of each such notice of intent to issue, and issue confirmations in the order of priority until the available state volume limitation in such pool is exhausted. If the amount of state volume limitation in the appropriate pool is insufficient to issue a confirmation in the amount requested for the prioritized notice of intent to issue, the division must issue a confirmation in the amount of the state volume limitation available and place the balance of the request on a pending list for such pool. The unfilled portion of any such notice of intent to issue and any notices of intent to issue for which there was insufficient state volume limitation to issue a confirmation must be placed on the pending list for the appropriate pool in the priority order established in this paragraph.

(2)Each confirmation issued pursuant to s. 159.8061, s. 159.8062, s. 159.8063, or s. 159.8071 expires and ceases to be effective on November 30 of the year in which it was issued, unless the issuer obtains a carryforward confirmation pursuant to s. 159.8101(2).

(3)A confirmation only assures an issuer of an allocation of state volume limitation in such amount and for such purpose as set forth therein until the expiration thereof. Each confirmation granted pursuant to subsection (1) must include the following information:(a) The issuer to which the allocation of state volume limitation is made.

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Legislative history

s. 9, ch. 2024-220; s. 11, ch. 2025-6.