Tax Credit Bonds: A Brief Explanation (CRS Report for Congress)
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| Release Date |
Aug. 20, 2008 |
| Report Number |
RL34629 |
| Report Type |
Report |
| Authors |
Steven Maguire, Government and Finance Division |
| Source Agency |
Congressional Research Service |
Summary:
CREBs were created by the Energy Policy Act of 2005 (P.L. 109-58) and theGTCBs by the Gulf Opportunity Zone Act of 2005 (P.L. 109-135). The TRHCAincreased the volume cap for CREBs from $800 million to $1.2 billion and extendedthe authority to issue CREBs from December 31, 2007, to December 31, 2008. S.2886 in the 110th Congress would add $400 million to CREB volume. Authorizationto issue GTCBs expired on January 1, 2007. FCBs were created by the Food,Conservation, and Energy Act of 2008 (P.L. 110-234).The first section of this report examines the mechanics of TCBs in more detail.The second section of this report analyzes the market for TCBs relative to municipaland corporate bonds.
