Federal Update | February 2013

The Internal Revenue Service just issued the allocations for the Qualified Zone Academy Bond (QZAB) program for calendar years 2012 and 2013. The American Taxpayer Relief Act of 2012 provides authorization for QZABs of $400 million for each of calendar years 2012 and 2013. School districts across the county will have $800 million in federal financial support through QZABs to assist in the financing of much need school renovations and repairs.

Rebuild America’s Schools worked with Congress and the Administration for the extension of the QZAB program. Rebuild America’s Schools thanks the Senate Finance Committee, Senator Rockefeller and Chairman Baucus and the House Ways and Means Committee where Congressman Charles Rangel originated the QZAB program in 1997. QZABs are used by school districts in states across the country to renovate, repair and modernize schools. School districts in every state have used QZABs to help finance their school facility programs. Modern schools assist student success and achievement.

Adobe ReaderClick here for the IRS notice of Qualified Zone Academy Bond Allocations for 2012 and 2013 with the State by State Allocations for each year. Please get the word out about the availability of these bonds.

Rebuild America’s Schools is continuing to work to build federal support for QZABS, school facility grants and infrastructure initiatives.

Thanks to all Rebuild America’s Schools sponsors and members for supporting this effort.

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