Notice 2009-51 DOC solicited applications for and provided guidance on the allocations of the $2 billion national bond volume limitation authority (“volume cap”) to issue tribal economic development bonds under § 7871(f) of the Internal Revenue Code. Section 7 of the Notice provides that the volume cap is to be allocated in at least two tranches. The Service received 58 applications requesting a total of $1,329,487,364.88 in volume cap for the first tranche of allocations. On September 15, 2009, pursuant to News Release 2009-81, the Service announced the allocation of $999,999,999.86 in authority to issue tribal economic development bonds. Pursuant to the Notice, the Service allocated pro rata amounts of volume cap to the projects described in the applications such that the total amount allocated under the first tranche did not exceed $1 billion with a $30 million limitation per tribal government. The Service received 86 applications requesting a total of $3,026,804,299.84 in volume cap for the second tranche of allocations. On February 9, 2010, pursuant to News Release 2010-20, the Service announced the allocation of $1,004,513,017.38 in authority to issue tribal economic development bonds. Pursuant to the Notice, the Service allocated pro rata amounts of available volume cap to the projects described in the applications such that the total amount allocated under the second tranche did not exceed $1,004,513,017.38 in available volume cap (which included forfeited amounts from the first tranche allocations) with a $30 million limitation per tribal government. For those applicants who elected to consent to public disclosure, the Service released allocation schedules for the first PDF and second PDF tranches showing the names of the tribal governments, the types and locations of the projects described in the applications, and the amounts of the awarded allocations. View First Tranche Allocation Schedule PDF View Second Tranche Allocation Schedule PDF
