TITLE

FHLBs Could Offer LOCs for Economic Development Debt Under Bill

AUTHOR(S)
Mcconnell, Alisn L.
PUB. DATE
April 2006
SOURCE
Bond Buyer;4/26/2006, Vol. 356 Issue 32368, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Federal Home Loan Banks has said they could provide credit enhancements to issuers of tax-exempt economic bonds under the proposed legislation by U.S. Representative Phil English. The proposed bill is alike to previous ones introduced in the Congress after the Internal Revenue Service has started auditing deals in which the banks have issued illegal federal guarantees on bonds. The bill will also amend the federal tax code to permit bonds to be treated as tax-exempt.
ACCESSION #
20708074

 

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