EDUCATION AND SOCIAL SERVICES
School Construction Tax Credit Bonds
Department & Agency:
Department of Treasury, Internal Revenue Service
Agency Contact:
Internal Revenue Service
Stimulus Funding:
Section 1521 of the Act authorizes a maximum of $200 million for state and local governments to issue tax credit bonds for the construction, rehabilitation or repair of public school facilities, or for acquisition of land on which a public school facility will be constructed.
Eligibility and Type:
There is a maximum $200 million allocation to the Secretary of the Interior for both calendar year 2009 and calendar 2010 in qualifying school construction bonds that tribal governments may issue for schools funded by the Bureau of Indian Affairs.
Program Description:
School construction tax credit bonds are defined as 100 percent of the proceeds from tax credit bonds issued for the construction, rehabilitation or repair of public school facilities, or for acquisition of land on which the public school facility will be constructed.
Analysis:
See Tribal Bonds Alert: Tribal Bond Provisions Included in the Economic Stimulus Package
On March 18, NCAI hosted a webinar on the Recovery Act provisions for tribal financing. This live presentation included discussion of tax-advantaged bonds for school construction. To view the webinar, click on the link below.
http://www.indiancountryworks.org/webinars.cfm#financeoptions
Technical Assistance:
Information is not yet available.
