On February 10, 2009, the US Senate passed its version of the economic stimulus bill. The Senate bill eliminates grants for school construction, renovation and repair. The tax credit bond provisions which provide financing for school construction remain.
The Senate bill and the previously adopted House of Representatives’ bill will have to be reconciled into a single bill to be signed by the President. It is expected that an effort will be made to restore the school construction, renovation and repair grant funding component.
We will continue to monitor the economic stimulus bill and provide you with updates.
If you have any questions concerning the content of this Legal Alert, please contact the following from our office, or the attorney with whom you normally consult.