The Department of Treasury issued a notice to inform tribes of $2 billion in tax-exempt bonding authority under the American Recovery and Reinvestment Act of 2009.

The law relaxed some of the restrictions that the Internal Revenue Service placed on tribes. According to the notice, tribes can use tax-exempt bonds for the same types of projects as as states and local governments.

However, gaming facilities and off-reservation projects are not allowed.

Tribes have until August 15 to apply for the first distribution of $1 billion in bonds. The next round of applications will be due by January 1, 2010.

Get the Story:
Boost for Tribal Bonds (The Bond Buyer 6/24)

American Recovery and Reinvestment Act:
H.R.1 | S.1

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