I think saying “Full MLE”, “Taxpayer MLE”, and “Room Exception” only serve to confuse things because people view them as 3 separate entities with their own rules. However, I think it’s much simpler to say there’s one MLE with 4 rules:
- If you use any of the MLE, you are hard capped at the 2nd apron
- If you use more than the taxpayer amount (5mil), then you are hard capped at the 1st apron
- If you have cap space, you can only use 8mil
- Otherwise, you can use about 12-13mil
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