Use Of QZAB Funds

Any Use except New Construction

Indicate the proposed use in the QZAB plan

Why Is QZAB a Good Deal for School Districts?

A QZAB is a better value for the district because, under these tax-credit bonds, the federal government pays, on average, all of the interest, whereas, under tax-exempt bonds, the school district typically recoups only 20 percent of the interest payments.

Available QZAB Allocation:

U.S. Congress, in the last six years, has made a total of $2.4 billion in QZAB bonding authority available to all states. Most states have already distributed, or are in the processing of distributing, at least part of their allocations to their school districts.
Nationally, a total of $400 million per year has been available for QZAB since 1968. Most states have used their allocations through 2005.

The 2004 allocation expires on December 31, 2006
The 2005 allocation expires on December 31, 2007

The Bush administration has requested in its 2006 Fiscal Year budget extension of QZAB program at the $400 million per year level for the years 2006 and 2007. The U.S. Congress is expected to approve the extension by December, 2006.