United States Stimulus Act
Guide to Clean Renewable Energy Bonds
American Recovery and Reinvestment Tax Act of 2009
In February 2009, the American Recovery and Reinvestment Act of 2009 allocated an additional $1.6 billion to the 800 million already allocated in 2008 for CREBs.
Recently, CREBs eligibility has been extended to marine energy and hydrokinetic power projects. The IRS has not yet announced that it is accepting applications for the new allocations made in 2008 and 2009, and it has not issued official guidance detailing how the program will operate.
Additional Information may be found here:
Clean renewable energy bonds (CREBs) may be used by most municipal governments, electric COOPs and certain not-for-profit entities.
CREBs borrowers pay no interest. The CREBs lender, or purchaser, receives a tax-credit from the Federal Government equaling, theoretically, the same amount of interest the borrower would have paid.
The tax credit rate is set daily by the U.S. Treasury Department. The credit has been reduced to 70% of what it would have been otherwise.
Sponsored by: McLiney And Company, the nation’s leading tax-credit bond firm with more than 350 closed throughout the United States.
