October 12, 2010 Newsletter

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.

The CDA Newsletter is now available through RSS.

RSS Click the RSS feed button to go to the Community Development Associates Newsletter feed and subscribe via your favorite reader.

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

Send to a Friend Subscribe to this newsletter Unsubscribe

© Community Development Associates, LLC. All rights reserved.

This message and any attachments may contain confidential or privileged information and are only for the use of the intended recipient of this message. If you are not the intended recipient, please notify the sender by return e-mail and delete or destroy this and all copies of this message and all attachments. Any unauthorized disclosure, use, distribution, or reproduction of this message or any attachment is prohibited and may be unlawful.

Any Federal tax advice contained herein is not intended or written to be used, and cannot be used by you or any other person, for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Code. This disclosure is made in accordance with the rules of Treasury Department Circular 230 governing standards of practice before the Internal Revenue Service. Any written statement contained herein relating to any Federal tax transaction or matter may not be used by any person without the express prior written permission in each instance of a principal of this firm to support the promotion or marketing of or to recommend any Federal tax transaction(s) addressed herein.