Build America Bonds
The America Recovery and Reinvestment Act of 2009 (“ARRA”) enacted February 17, 2009, among other things, authorized the issuance of Build America Bonds (“BABs”). Two categories of BABS were authorized: Tax Credit BABs (“TCBABs”) and Direct Payment BABs (“DP-BABs”). The holder of a TC-BAB is entitled to a credit against the holder’s federal income tax liability. The issuer of a DP-BAB is entitled to a tax credit refund from the federal government. In the year since the enactment of ARRA, most if not all of the BABs which have been issued have been DP-BABs.
Also of Interest
- Final Treasury Reissuance Regulations Addressing Modifications of Debt Instruments to Replace IBORs
This edition of the Hawkins Advisory describes recently released final Treasury Regulations providing guidance in connection with the discontinued Interbank Offered Rates.
- Tax-Exempt Bond Provisions Included in the Infrastructure Investment and Jobs Act
This Hawkins Advisory describes three tax-exempt bonds provisions included in the Infrastructure Investment and Jobs Act.
- 2021 Area Median Gross Income Figures
On March 25, 2021, the Internal Revenue Service released Revenue Procedure 2021-19, which contains information for issuers of single-family housing bonds and mortgage credit certificates related to the income limits.
- Average Area and Nationwide Purchase Price Safe Harbor Limits
This Hawkins Advisory relates toinformation of specific interest to single-family housing bond issuers regarding Average Area and Nationwide Purchase Price Safe Harbor Limits.