Tax Facts

7661 / What are Build America Bonds and how are they taxed?

ARRA 2009 created the Build America Bond program (under IRC Section 54AA), which authorized state and local governments to issue Build America Bonds as taxable governmental bonds in 2009 and 2010 to finance any governmental purpose for which tax-exempt governmental bonds could be issued. The 2017 tax reform legislation repealed Section 54AA, which governed Build America Bonds for 2009...

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