New Authority for QZABs
On February 19, 2010, the state of Indiana was allocated $27,302,000 for the issuance of Qualified Zone Academy Bonds (QZABs) for 2010, which was an increase from the 2009 allocation amount. School corporations should be receiving a memo from the Indiana Department of Education with more details regarding the application process for authority to issue QZABs.
Pending Legislation Effecting QZABs and QSCBs
On February 11, 2010, leaders of the Senate Finance Committee unveiled draft legislation that would allow issuers of QZABs and Qualified School Construction Bonds (QSCBs) to receive Build America Bond-type direct payments instead of providing investors with tax credits. Essentially, this could mean that an issuer would receive a subsidy payment equal to 100% of the interest payments on these types of bonds. Ice Miller will be watching the legislation and will send notification of adoption as soon as possible.
Read more about QZABs. | 
