Build America Bonds (BABs)
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2017-01-01
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Abstract:Build America Bonds (BABs) were authorized by the American Recovery and Reinvestment Act (ARRA) enacted in February 2009. BABs are taxable bonds that are eligible for an interest rate subsidy paid directly from the U.S. Treasury. States and local governments can issue BABs through December 2010. Surface transportation projects are among other public infrastructure projects (e.g., public buildings, courthouses, schools, water and sewer projects, etc.) that are eligible for BAB financing.
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