Issue Brief 09-20 ARRA Provides New, Expanded Bonding Authority, May 20, 2009

December 22, 2009: Treasury Surpasses $4 Billion in ARRA Funds Awarded to State Housing Authorities The Treasury Department announced that more than $4 billion in ARRA funds have been awarded to state and territorial housing authorities. These authorities have received payments in lieu of tax credits to stimulate the construction and completion of affordable housing projects. Click here to view the awards: http://www.treas.gov/press/releases/tg459.htm

October 27, 2009: CREBs Allocation The Treasury Department announced the allocation of $2.2 billion in Clean Renewable Energy Bonds (CREBs) for 805 recipients across the country. Funded by the Energy Improvement and Extension Act of 2008 and the Recovery Act, these bonds are intended to help government agencies, public power providers, and cooperative electric companies obtain lower-cost financing for clean energy development projects. For more information, see: http://www.treasury.gov/press/releases/tg333.htm

June 12, 2009: $25 Billion Available for Recovery Zone Bonds The Treasury Department has announced the availability of $25 billion for the Recovery Zone Bonds program. The press release and state allocations can be found at: http://www.treas.gov/press/releases/tg168.htm

May 27, 2009: New Markets Tax Credit Treasury Secretary Tim Geithner announced $1.5 billion in New Markets Tax Credit (NMTC) awards for 32 organizations throughout the country. The 32 organizations receiving awards have identified principal service areas covering 33 states, the District of Columbia, and Puerto Rico. The NMTC program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs). The following link lists the organizations selected for awards and additional information on the NMTC program: http://www.cdfifund.gov/

Recovery Plan The Department of the Treasury has released its agency-wide recovery plan: http://www.treas.gov/recovery/docs/ARRA Agency Plan 05_15_2009 Department of the Treasury.pdf