Private Activity Bonds

New Mexico Private Activity Bond Program Overview

The Federal Tax Code allows privately-owned public purpose projects to take advantage of tax-exempt financing through Private Activity Bonds (PAB's). The types of PAB issuances authorized by the Tax Code include mortgage revenue bonds, qualified residential rental projects (multifamily housing), small issue industrial development bonds, and a variety of "exempt facilities" including sewage facilities and solid waste and hazardous waste disposal facilities.

The Tax Code imposes a volume ceiling on the aggregate principal amount of tax-exempt PAB's that may be issued within each state during any calendar year. In calendar year 2024, New Mexico qualifies for the minimum PAB volume cap of $378,230,000.

Resources

Historic Cap Reservations