QZAB Extension Passes

From the Organizations Concerned About Rural Education:

As part of the rescue package enacted to meet the financial crisis, the U.S. House and Senate approved the so-called “tax extenders” bill that included a two-year, $800 million extension of the Qualified Zone Academy Bond (QZAB) program. QZABs allow local districts to finance school improvments or renovations at no interest cost by giving bond buyers federal tax credits in lieu of interest. The U.S. Treasury allocates the bonds to the states based on their low-income school population and state education agencies assign the bonding authority to their local school districts. The bill also removes an arbitrage modification of the original Act which has negatively affected the ability of school districts to use the bonds.