California Debt Limit Allocation Committee (CDLAC)

Last updated 01/04/2019

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Description

Federal law limits how much tax-exempt debt a state can issue in a calendar year for private projects that have a qualified public benefit. This cap is determined by a population-based formula. CDLAC was created to set and allocate California’s annual debt ceiling, and administer the State’s tax-exempt bond program to issue the debt.