California Debt Limit Allocation Committee (CDLAC)

CDLAC administers the tax-exempt private activity bond program available annually for California. 

The 1986 Federal Tax Reform Act imposed a limit on how much private activity bonds can be issued in a state each year. The limit is determined by a state’s population, multiplied by a specified dollar amount. CDLAC was established to administer the allocation of this bond ceiling or "cap" and to make certain that the total amount of private activity bonds issued does not exceed the limits established under federal law. Through CDLAC’s administration, the State ensures that this limited resource is efficiently used to finance projects and programs that both provide a public benefit and contribute to the economic vitality of California. 

CDLAC’s programs are used to finance affordable housing developments for low-income Californians, build solid waste disposal and waste recycling facilities, and finance direct loans used by in-need college students and their parents.