Ziegler Capital Markets Issues Statement on Stimulus Bill's Impact
By Richard Shank
President Obama signed the American Recovery and Reinvestment Act of 2009 (ARRA) on February 17. Ziegler’s Senior Vice President outlines who can benefit from the bill, including non-profit 501(c)(3) senior living providers that wish to finance a development with tax-exempt bonds.
The ARRA contains a tax-exempt bond provision for Bank Qualified (BQ) bonds. For the years of 2009 and 2010, the ARRA will increase the limit on the amount of BQ bonds that can be designated from $10 million to $30 million per year. Furthermore, borrowing institutions will be able to deduct 80% of their interest expense on tax exempt bonds other than BQ bonds.
To view the complete letter, please click here.
Source: Brod, Kathryn. March 2009. The Stimulus Bill's Impact on Financing with Tax-Exempt Bonds. Ziegler Capital Markets, Z-News.
Comments? Tell us what you think: askaia@matherlifeways.com
