Investors in Illinois College GOs Hoping to See Tax Break Restored

Shields, Yvette
September 2004
Bond Buyer;09/17/2004, Vol. 349 Issue 31971, p1
Trade Publication
The article reports on the hope of the market participants that Illinois this fall acts on a measure to restore a college tuition break that holders of the state's general obligation college savings bonds can claim. The state has sold 12 series of college savings GOs with a maturity value of $4 billion since the program's inception in 1988. The 22-year bonds are structured as zero-coupons and sold in $5,000 blocks. Although the state has not sold college savings bonds since the fall of 2002, market participants have warned that the state's decision to not fund the grant for the first time in the program's 16-year history could hurt the existing bonds' value and interest in future issues.


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