DOT Proposal May Boost Tax-Exempts

Sanchez, Humberto
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p1
Trade Publication
The U.S. Department of Transportation (DOT) is considering asking Congress to change the tax laws to allow private companies to use an unlimited amount of tax-exempt bonds to finance the construction of transportation infrastructure projects as part of the government's proposal to reauthorize the expiring Transportation Equity Act for the 21st century. According to a copy of the agency's draft TEA-21 reauthorization proposal, highway projects and intermodal freight projects on, or near, a national highway would be eligible for financing with tax-exempt private-activity bonds that are exempt from the private-activity bond volume cap. The DOT plan also would exempt these bonds from the state-by-state private-activity bond volume cap, as well as private-activity bonds issued for mass transit projects.


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