In response to the uncertain future of the Private Activity Bond (PAB) program caused by pending federal tax reform, OHCS is providing guidance to partners in an attempt to accommodate as many PAB transactions as possible. Yesterday, OHCS issued two technical advisories for affected project sponsors. The first technical advisory was directed to project sponsors that have previously closed tax-exempt bond transactions but have not yet fully drawn bond proceeds prior to December 31, 2017. A second technical advisory provided guidance to project sponsors working on projects that were not scheduled to close prior to December 31, 2017 but are now looking to close by year end.