The Volume Cap is a federally authorized program which allows the state to allocate tax-exempt private activity bond authority to various projects throughout the state. With this authority, bond issuers are able to finance projects at interest rates below that of the conventional market. The history of tax-exempt bonds dates back to 1936 when they were first issued in the United States. It was not until 1965 that Ohio issued its first tax-exempt bond. The use of tax-exempt bonds was first made subject to a federal volume cap in 1984 and modern restrictions on its use were included in the Tax Reform Act of 1986. From 1984 to 1991, Ohio's program operated under a series of Executive Orders. In January 1991, Amended Substitute House Bill 339 created the Joint Select Committee on Volume Cap to oversee the annual allocation of assistance and the development of administrative rules to replace the Executive Orders process. With oversight from the Joint Select Committee on Volume Cap, the Ohio Department of Development administers Ohio's Volume Cap. For more information, please download the Volume Cap Summary and Volume Cap Guidelines documents below. 2009 Volume Cap Forms Contact: Ohio Energy Office, Volume Cap Administrator at (866) 728-6749 or (614) 466-6797 .
To be notified when this site is updated or for questions or suggestions please send e-mail to the Volume Cap Program.