House Passes that Includes BABs Provisions and Extension of Surface Transportation Law
Mar 5, 2010
On March 4, 2010, the House of Representatives passed a revised version of the “Jobs Bill,” the Hiring Incentives to Restore Employment Act, passed by the Senate last week. Like the Senate-passed version of the bill, the House bill, if enacted, would permit Qualified School Construction Bonds (QSCBs), Clean Renewable Energy Bonds (CREBs), Qualified Zone Academy Bonds (QZABs), and Qualified Energy Conservation Bonds (QESBs) to be issued as direct payment bonds. The revised version of the House bill expands the number of tax credit bond programs eligible for issuance as direct payment bonds from the original House-passed bill and increases the direct payment subsidy from the Senate-passed version. The revised bill also would extend the authorization for surface transportation programs through the end of the year. The Senate must now act again before the bill can go to the President.
The text of the bill is available on the Library of Congress web site here: http://thomas.loc.gov/