|Code Section||Effective Date||Name of Act||Name of Provision||10yr Revenue Estimate ($millions)|
|54C||2/17/2009||The American Recovery and Reinvestment Act of 2009 (Public Law 111-5)||Expand new clean renewable energy bonds||-578|
Expand new clean renewable energy bonds
Explanation of Provision233
The provision expands the New CREBs program. The provision authorizes issuance of up to an additional $1.6 billion of New CREBs.
233- Section 301 of the Hiring Incentives to Restore Employment Act, Pub. L. No. 111–147, added a provision to section 6431, allowing the issuer of the bonds to elect to receive a direct payment from the Treasury in lieu of providing a tax credit to the holders of the bonds. For further discussion, see Part Seven of this document.
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