Summary
In addition to providing substantial funding for a host of state grant programs, the American Recovery and Reinvestment Act of 2009 (ARRA, P.L. 111-5) also provides new and expanded bonding authority for state and local governments. These include:
- Build America Bonds
- Recovery Zone Economic Development Bonds
- Qualified Zone Academy Bonds
- Qualified School Construction Bonds
- Qualified Energy Conservation Bonds
- New Clean Renewable Energy Bonds This Issue Brief describes the programs and provides allocations and bond caps, where available.