RSA 162-M:2 Allocation Formula.

Pursuant to section 146 of the code, the state hereby establishes for calendar year 1988 and each calendar year thereafter its formula for allocating the state ceiling among issuers as follows:
I. All of the state ceiling on private activity bonds which may be issued in any calendar year is hereby allocated to the state.
II. The housing finance authority may from time to time assign up to 1/2 of the state ceiling in any calendar year to and among issuers, including itself, for the purpose of (a) allocating such state ceiling to housing bonds or (b) electing under section 25(c)(2)(A)(ii) of the code not to issue a specified amount of qualified mortgage bonds in order to issue, or reserve the right to issue, mortgage credit certificates pursuant to section 25 of the code.