The US House of Representatives, on January 28, 2009, passed the "American Recovery and Reinvestment Act of 2009" – commonly referred to as the "Stimulus Legislation." The Senate is currently considering similar legislation. Squire Sanders has been following the legislation closely because it includes a number of new and expanded bonding provisions that are of interest to states, counties, municipalities, school districts, public power systems, conduit borrowers and other participants in the tax-exempt markets.
We plan to send periodic updates on these provisions as this legislation moves through Congress. If you have questions on these provisions or would like to learn more about them, please contact your principal Squire Sanders lawyer or one of the lawyers listed in this alert.