Build America Bonds
"Increasing state and local funding for capital projects doesn't just help rebuild our aging infrastructure. It gets American's back to work. Build America Bonds is an innovative approach to augment the ailing tax-exempt bond market and shows the Administration's commitment to economic recovery for Main Street." - Treasury Secretary Tim Geithner, 4/3/2009
The Obama Administration's Build America Bonds program helps states and localities pursue needed capital projects which build infrastructure and create jobs.
The existing tax-exempt bond market has faced significant challenges over the past two years. Build America Bonds (BABs) address that by providing state and local governments with a new, direct federal payment subsidy for a portion of their borrowing costs on taxable bonds. BABs provide a deeper federal subsidy to state and local governments (equal to 35 percent of the taxable borrowing cost) than traditional tax-exempt bonds which leads to lower net borrowing costs for state and local governments.
This feature also makes Build America Bonds attractive to a broader group of investors than typically invest in more traditional state and local tax-exempt bonds.
The capital projects these bonds fund include work on public buildings, courthouses, schools, transportation infrastructure, government hospitals, public safety facilities and equipment, water and sewer projects, environmental projects, energy projects, government housing projects and public utilities.
To view the guidance and required forms, please visit
Updates on the Program
|05/16/2011||Treasury Releases New Report on Build America Bonds|
|01/28/2011||Build America Bonds Data by month, by state, with state detail|
|12/06/2010||Build America Bonds Data by month, by state, with state detail|
|11/05/2010||Build America Bonds Data by month, by state, with state detail|
|10/05/2010||Build America Bonds Data by month, by state, with state detail|
|09/07/2010||Build America Bonds Data by month, by state, with state detail|
|08/06/2010||Build America Bonds Data by month, by state, with state detail|
|07/06/2010||Build America Bonds Data by month, by state, with state detail|
|06/03/2010||Treasury Releases New Build America Bonds Data|
|05/06/2010||Treasury Releases New Build America Bonds Data|
|04/02/2010||Treasury Releases New Report on Build America Bonds|
|03/04/2010||Treasury Releases Build America Bonds Update|
|02/08/2010||Treasury Releases Build America Bonds Update|
|07/20/2009||Treasury Releases Build America Bonds Update|