WASHINGTON — A draft version of a Senate jobs bill widely circulated Tuesday included provisions that would allow several tax-credit bonds to be treated like Build America Bonds through the end of 2010, with issuers receiving a direct subsidy payment from the federal government instead of providing investors with a tax credit.
According to the 362-page draft, which was dated Feb. 9 and titled the “Hiring Incentives to Restore Employment Act,” the following tax credit bonds could be issued as direct subsidy bonds: new clean renewable energy bonds, qualified energy conservation bonds, qualified zone academy bonds, and qualified school construction bonds.
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