October 12, 2010 Newsletter

14-Oct-2010
 
Topics: IRS solicits arbitrage comments; Texas CMOs win $50M in federal grants; BAB and RZB extender bill filed in Congress 
Is Your Arbitrage Compliant? What About Your Clients?

Community Development Associates has a strong arbitrage rebate team that provides the same exceptional client service for which CDA has become known nationwide. If you or one of your clients is behind on arbitrage compliance, or considering a new arbitrage service provider, please contact Lee McCormick. We would be pleased to assist you.

Treasury Department Calls For Arbitrage Comment - Federal Register, October 4, 2010

"Currently, the IRS is soliciting comments concerning Form 8038-R, Request for Recovery of Overpayments Under Arbitrage Rebate Provisions." The deadline to participate is 12/3/2010. READ THE FULL NOTICE.

Texas Charter Management Orgs Win $50M in Federal Grants - Texas Charter Schools Association

Three of the twelve high-performing CMOs who received federal grants under the Charter School Grant Program competition are Texas-based. Combined, IDEA Public Schools, KIPP and YES Prep Public Schools represent approximately 1/8 of the students in Texas charter schools. ....READ THE RELEASE

Baucus Bill Would Shorten BAB Extension to One Year - Bond Buyer, September 16, 2010

"The Montana Democrat introduced the Job Creation and Tax Cuts Act, which includes a provision that would extend BABs through 2011 at a 32% subsidy rate. That’s half as long as comparable legislation introduced in the House, which would have extended the program for two years and provided a 32% subsidy rate for BABs issued in 2011 and 30% rate for those sold in 2012.

"Even though extenders legislation is now pending in both chambers of Congress, market participants contend the legislation will not gain significant traction until after the elections, during a lame-duck session.

"The Baucus bill also would extend for one year the Recovery Zone bond programs, aimed at rejuvenating areas hit hard by the recession." ...READ THE FULL ARTICLE.

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Community Development Associates
6988 Lebanon Road, Suite 103 | Frisco | TX | 75034
Tel: (214) 256-3121 | Fax: (214) 256-3209
www.cdafinance.com

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