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I ~IITX~ XSSUERS Definition. An "entitlement issuer" is a local I issuer (treating all local issuers with coterminous boundaries as one) with an average annual previous use of $1,000,000 or more based on the highest annual use in three of the calendar I years 1980 through 1983. "Previous use" means the principal amount of XDBs subject to limitation during a specified period under a "federal limitation act" (defined to mean an act of i Congress limiting the amount of tax exempt IDBs issuable during any calendar year). For purposes of the first certification, described below, it is assumed that the standards of H.R. 4170 will apply. If, however, the requirements of H.R. 4170 are I modified prior to its adoption, the finally adopted Federal requirements will be used to determine the amount of previous use to be identified in the second certification. For example, I if the federal limitation act ultimately excludes all "exempt purpose IDBs from the per capita limit, local issuers cannot I I I i I I I I I take such issues into account in determining previous use. I First Certification. To obtain an entitlement allocation, an entitlement issuer must submit to EED, on or before May 29, 1984, a certification setting forth both its previous use for 1980 through 1983 and its average annual previous use for the highest three of the four years, using the federal limitation act then in effect or, if no such act is in effect, H.R. 4170 as reported by the House Ways and Means Committee on March 5, 1984. Within 15 days after the deadline for that submission, EED must determine and publish the amount of issuance authority allocated to each complying issuer. Second Certification. Within 15 days after a federal limitation act becomes effective, any issuer who submitted a first certification when no federal limitations act was then in effect must submit a new certification setting forth its previous use for the same period, but determined under the terms of the finally adopted federal limitation act. Within 15 days after the deadline for the second certification, EED will determine and publish the revised amount of issuance authority allocated to the complying issuers. Failure to make the second certification results in the forfeiture of any unused portion of the previous allocation. Amount of Entitlement. After each certification, the aggregate entitlement amount will be prorated to each entitle- ment issuer on the basis of its previous use. Available bonding authority, as determined after the second certifica- tion, will be reduced by IDBs issued under the first certification. If bonding authority is reduced to, or below, zero, or if the entity is no longer an entitlement issuer after the second certification, the amount of IDBs already issued by 2