QZABsQualified Zone Academy Bonds
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A small number of QZABs and QSCBs were filed in 2010.
A list of Empowerment Zones and Enterprise Communities is available on the QZAB site at www.qzab.org.
QZABs are used by states and local educational agencies to provide additional resources for improving school facilities and instruction.
Jeffrey Baratta, a San Francisco investment banker who structures QZAB programs, stresses that QZABs "require little government intervention at the least amount of cost to taxpayers."
* In a May 29 letter, the Secretary informed Chief State School Officers about the authorization of Qualified School Construction Bonds (QSCBs) and Build America Bonds (BABs) and the extension of existing Qualified Zone Academy Bonds (QZABs).
Separately, as part of the financial rescue package, Congress approved and President Bush signed the reauthorization of the Secure Rural Schools and Community Self-Determination Act, which supplies federal aid to replace timber tax revenues in districts that are near national forests, and a two-year extension of various tax benefits, such as college tuition and expenses, out-of-pocket teacher expenses, and Qualified Zone Academy Bonds (QZABs).
* Existing QZABs (qualified zone academy bonds) have been granted a one-year extension under the Bush proposal.
* The Act also authorized the issuance of Qualified Zone Academy Bonds (QZABs), the first type of tax-credit bond.
In a recent letter, the Secretary informed Chief State School Officers of the extension of Qualified Zone Academy Bonds (QZABs) through 2007.
Investors in QZABs include the amount of the tax credit in their taxable incomes and deduct the same amount from their income tax liabilities.