Build America Bonds definition

Build America Bonds or “BABs” means build America bonds under Section 54AA of the Tax Code.

Build America Bonds means the interest subsidy bonds issuable by the Issuer under Sections 54AA and 6431 of the Code and a “qualified bond” under Section 54AA(g)(2) of the Code or such other tax credit bonds of substantially similar nature which may be hereafter authorized.

Build America Bonds in this Section means Bonds authorized by Section 54AA of the Internal Revenue Code of 1986, as amended ("Internal Revenue Code"), and bonds issued from time to time to refund or continue to refund "Build America Bonds".

Examples of Build America Bonds in a sentence

• Unlike most other municipal obligations, interest received on Build America Bonds is taxable to the bondholder.

• These include bonds on which the issuer may receive an interest payment subsidy directly from the U.S. Treasury, known as direct pay Build America Bonds, and bonds on which the investor may receive a tax credit, known as tax credit Build America Bonds.

• One provision of the program is for issuance of taxable Build America Bonds to finance capital expenditures while providing a federal subsidy of 35% of the interest payment to the issuer.

• The American Recovery and Reinvestment Act of 2009 created the Build America Bonds program.

• The following disclosure has been added as a type of municipal security in which the fund may invest:  Build America Bonds The American Recovery and Reinvestment Act of 2009 created Build America Bonds, which allow state and local governments to issue taxable bonds in 2009 and 2010 to finance any capital expenditures for which they otherwise could issue tax-exempt governmental bonds.

More Definitions of Build America Bonds

Build America Bonds means Bonds that meet the definition of a “build America bond” in Section 54AA(d) of the Code and the definition of a “qualified bond” under Section 54AA(g)(2) of the Code and for which the County will be allowed a Refundable Credit, all as authorized by Section 1531, Title 1 of Division B of ARRA.

Build America Bonds means any bonds or obligations the Issuer has designated as "Build America Bonds" and as to which the Issuer has made an irrevocable election to have Section 54AA of the Code apply. Build America Bonds are a type of Subsidy Obligations.

Build America Bonds means any Taxable Bonds designated by the U.T. System Representative in the Award Certificate as Build America Bonds pursuant to Section 3(d) hereof.

Build America Bonds means those Series 2011 Bonds designated as such pursuant to Section 54AA of the Code or any successor provision.

Build America Bonds means, collectively or singularly, as the context may require, all Series of Leasehold Revenue Bonds designated by the Corporation as such pursuant to the Recovery Act, and may include direct subsidy bonds or tax credit bonds, as provided in the Recovery Act.

Build America Bonds means any series of Parity Bonds to which the

Build America Bonds in this Section means Bonds