The American Recovery & Reinvestment Act created several new and expanded bond opportunities for both the State of Georgia and local governments in economic development, school construction and energy. The table below provides a summary of the new bond provisions available in Georgia.
For more information on ARRA bond opportunities, download the entire summary of ARRA bond provisions at the bottom of the page.
|
Bond |
GA Allocation |
Local allocation |
Eligible projects |
Issue Deadline |
|
Taxable Bonds |
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|
Build America Bonds |
No limit |
Not applicable |
Capital expenditures |
12/31/2010 |
|
Recovery Zone Economic Development Bonds |
$355,785,000 |
Entire State allocation sub-allocated by ARRA to 109 GA counties and Atlanta and Savannah. May be returned to State or given to other GA local government. |
Capital projects and job training to promote economic development in issuer-designated recovery zones |
12/31/2010 |
|
Tax Credit Bonds |
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|
Qualified Zone Academy Bonds |
$46,376,000 |
Currently administered competitively by DOE to locals |
Rehabilitation, repair of public schools |
Allocations may be carried forward 2 years |
|
Qualified School Construction Bonds |
$201,062,000 for 2009 |
Annual Amts for 2009, 2010 |
Construction, rehabilitation, repair of public schools; land acquisition for public schools |
12/31/09 for 2009 allocation; 12/31/10 for 2010 allocation (state can carry forward 1 yr) |
|
Clean Renewable Energy Bonds |
$2.4 billion US allocation |
Eligible issuers apply directly to IRS for part of the 33% national set-aside for governments |
Alternative electric-generation facilities |
None identified |
|
Qualified Energy Conservation Bonds |
$100,484,000 |
Some direct sub-allocations to local governments required by ARRA; remaining allocations to be determined |
Qualified conservation purposes: 1)capital expenditures reducing energy consumption in public buildings by 20%, 2) grants for research; 3)mass commuting facilities, 4) commercialization of alternative energy technology, 5) public education campaigns |
Allocations valid for 3 years |
|
Private Activity Bonds |
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|
Recovery Zone Facility Bonds |
$533,677,000 |
Entire State allocation sub-allocated by ARRA to 109 GA counties and Atlanta and Savannah. May be returned to State or given to other GA local government. |
Private activity in issuer-designated recovery zone |
12/31/2010 |
 |
Bonding Opportunities.pdf |