WASHINGTON — The recovery zone bond program would double in size to $50 billion and Build America Bonds could be used to do current refundings of existing BABs under a new tax and jobs bill released late Thursday evening by leaders of the House and Senate tax-writing committees.
The text of the American Jobs and Closing Tax Loopholes Act also makes clear that tribal governments for the first time would be able to sell private-activity bonds to finance water and sewer projects, and specifies that BABs could be used for capital expenditures tied to projects involving levees and other flood control projects.
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