Private Activity Bond Authority
Upcoming Private Activity Bond Authority Board Meeting
The next Private Activity Bond Authority (PAB) Board Meeting is scheduled for Wednesday, July 10, 2013, at 9:00 a.m. The meeting will be held at our office located in the World Trade Center at City Creek, 60 East South Temple, 3rd Floor, Canyonland Conference Room #341, Salt Lake City, Utah (see attached map). A copy of the agenda will be posted approximately one week before the meeting.
Applications for PAB funding are being accepted for review at the July 10, 2013, Board Meeting. Applications must be submitted by 5:00 p.m., on Tuesday, May 28, 2013.
Click on the following links for additional information about the PAB Program: PAB Programs, PAB Applications
Qualified Energy Conservation Bond Application
The Qualified Energy Conservation Bonds (QECBs) Application is available for any Utah county, town or city interested in applying for the remaining amount of the State's $4,306,920 portion from the total $28,389,000 volume cap received. The Private Activity Bond Authority Review Board is accepting applications for review at the April 10, 2013, Board Meeting. The next submission deadline for applications is Monday, February 25, 2013, at 5:00 p.m. Additional information is available on the QECB Program page.
Programs Administered by the Private Activity Bond Authority
Private Activity Bonds
The Private Activity Bond (PAB) Program is Utah's tax-exempt bonding authority creating a lower cost, long-term source of capital under the Federal Tax Act of 1986. The Federal Government allocates over $32 billion per year to states on a per capita basis, with Utah receiving $291,875,000 in 2013. Each state establishes its usage priorities by statute. For more information on the PAB Program click here.
Qualified Energy Conservation Bonds
Program provisions for QECB were provided in The Energy Improvement and Extension Act of 2008, part of the Emergency Economic Stabilization Act of 2008. The American Recovery and Reinvestment Act of 2009 amended this act and increased the volume cap for QECB issued after October 3, 2008, from $800 million to $3.2 billion. Volume cap was allocated to States in proportion to their population with Utah receiving $28,389,000.
Qualified Energy Conservation Bonds (QECB) are issued for any of the following energy conservation purposes:
Capital expenditures to reduce energy consumption in publicly owned buildings by 20%, implementing green community programs, rural development involving the production of electricity from renewable energy or any qualified facility.
Expenditures by research facilities and research grants to support research of non-fossil fuels, carbon dioxide sequestration, increasing efficiency of existing technology for producing non-fossil fuels, automobile battery technology and other technologies to reduce fossil fuel consumption in transportation or technology to reduce energy use in buildings.
Mass commuting facilities.
Demonstration projects that promote green building technology, conversion of agricultural waste for use in the production of fuel, advanced battery manufacturing technology, reduction in peak use of electricity technology, carbon dioxide capture and sequestration technology.
Public education campaigns to promote energy efficiency.
For more information on the QECB Program click here.
Recovery Zone Bonds
Roxanne C. Graham