Cal. Code Regs. tit. 4 § 9071
Before applying to the California Debt Limit Allocation Committee for allocation of a portion of the State Ceiling pursuant to Government Code Section 8869.82 and 8869.85, an entity that is seeking to issue Qualified Scholarship Funding Bonds must first obtain CEFA board approval, pursuant to Section 9073(a), unless such entity became a qualified scholarship funding corporation as defined in subsection (d) of Section 150 of Title 26 of the United States Code prior to January 1, 2006. The Authority may in its discretion determine not to grant approval to any entity regardless of whether the entity meets the threshold criteria as an Eligible Candidate as defined in Section 9072(b). The Authority will consult and coordinate with the California Debt Limit Allocation Committee prior to making a final determination.
Cal. Code Regs. Tit. 4, § 9071
Note: Authority cited: Section 94140, Education Code. Reference: Section 94103, Education Code; and Sections 8869.82 and 8869.85, Government Code.