DOT Wants $15B in Private-Activity Bonds OK'd for Transportation

Sanchez, Humberto
May 2003
Bond Buyer;5/15/2003, Vol. 344 Issue 31636, p4
Trade Publication
The U.S. administration urged the Congress to change the tax laws to allow private companies to use up to 15 billion dollar in tax-exempt bonds to finance the construction of transportation infrastructure projects that would be exempt from the private-activity bond volume. The administration's proposal would replace the 1998 Transportation Equity Act for the 21st Century, or TEA-21, which expires on September 30, 2003. Beside the private activity bond provision, the administration's proposal would also lower the required price tag of projects eligible to receive assistance under the Transportation Infrastructure Finance and Innovation Act, or TIFIA. The proposal also includes a slight increase over six years for highway construction and a modest increase for mass transit projects.


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