NH&RA released a new resource map to track state policies implementing the 25 percent financed-by bond test. Click here to access the full list of state policies.

  • California, Georgia, Indiana, Iowa, Kansas, New Mexico, and Wisconsin have released new policies.
    • Most states are limiting bond allocations to 30 percent or 35 percent of the aggregate basis or permanent supportable debt.
  • Several states indicate plans to revise their QAPs in the fall to incorporate the new 25 percent test.
  • The majority of states have not made any official announcements about their intent to lower the threshold.

Please email Ilana Morof with any additional policies.