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ARRA and HIRE Act Bond Guidance

IRS Invites Public to Comment on TEDB Allocation Process and Also Announces a 3-Month Extension to Issue Unexpired TEDB Allocations
The IRS seeks public comment on the reallocation of available amounts of volume cap for Tribal Economic Development Bonds in order to facilitate issuance by Indian tribal governments. Additionally, Indian tribal governments with unexpired volume cap allocations may request a three-month optional extension.

The American Recovery and Reinvestment Act of 2009: Information Center
Update on the new economic stimulus legislation.

IRS Releases Guidance on ARRA Bond Provisions
The latest guidance, forms and information on bond provisions enacted by the American Recovery & Reinvestment Act of 2009.

IRS Announces Tribal Economic Development Bonds Allocations
The IRS has announced the allocation, in two tranches, of $2 billion of volume cap to tribal governments under the new TEDBs program.

IRS Releases Guidance on HIRE Bond Provisions
The Service announced that Notice 2010-35 has been released. The Notice provides guidance for the new Federal refundable tax credit subsidy option (direct pay subsidy option) allowed by the enactment of the Hiring Incentives to Restore Employment Act (HIRE Act) on March 18, 2010. The Notice is also intended to quickly enable issuers to begin issuing these bonds for qualified purposes.

The Service Announces the Release of New and Revised Tax Exempt Bond Forms
The IRS announced that new Form 8038-TC and revised Forms 8038-CP, 8038, and 8038-G have been issued.

Application of the Treasury Offset Program to Payments to Issuers of Direct Pay Bonds
Information on the application of the Treasury Offset Program (TOPS) as it relates to subsidy payments made to issuers of direct pay bonds.

Tax Exempt Bonds Compliance Check Questionnaire on Direct Pay Bonds (February 2010)
The Tax Exempt Bonds office of the Tax Exempt and Government Entities division of the IRS conducted a compliance check questionnaire to evaluate the issuance and record retention policies, procedures and practices of issuers of direct pay build America bonds.

TIGTA Audit Report Finds BABs Payment Processing is Timely and Accurate
TIGTA finds initial build America bond subsidy payments were processed accurately and timely.

TIGTA Finds that Compliance Check Questionnaires by TEB were Appropriate (August 1, 2011)
The compliance check questionnaires issued by the TEB office were appropriate for identifying indications of a high risk of potential noncompliance for BABs and were not examinations.

Page Last Reviewed or Updated: 01-May-2015