Number: RL34629
Title: Tax Credit Bonds: A Brief Explanation
Authors: Steven Maguire, Government and Finance Division 
Abstract: CREBs were created by the Energy Policy Act of 2005 (P.L. 109-58) and the GTCBs by the Gulf Opportunity Zone Act of 2005 (P.L. 109-135). The TRHCA increased the volume cap for CREBs from $800 million to $1.2 billion and extended the authority to issue CREBs from December 31, 2007, to December 31, 2008. S. 2886 in the 110th Congress would add $400 million to CREB volume. Authorization to issue GTCBs expired on January 1, 2007. FCBs were created by the Food, Conservation, and Energy Act of 2008 (P.L. 110-234). The first section of this report examines the mechanics of TCBs in more detail. The second section of this report analyzes the market for TCBs relative to municipal and corporate bonds.
Pages: 8
Date: August 20, 2008