Calif. Can Reinarket BABs: IRS.

Item request has been placed! ×
Item request cannot be made. ×
loading   Processing Request
Read Online Read More Add to Saved list
  • Additional Information
    • Subject Terms:
      CALIFORNIA
    • Subject Terms:
      UNITED States. Internal Revenue Service
    • Abstract:
      The article reports on the private-letter ruling issued by the U.S. Internal Revenue Service (IRS) that allows California to remarket the 132 billion dollar worth of Build America Bonds (BABs). It mentions that BABs, which were issued in 2009 and 2010, allows issuers to issue taxable debt and receive a 35% federal subsidy for interest as alternative to traditional tax-exempt bonds. It adds that the remarketing of BAB will part of the sale of government-owned businesses.