Rebuild America’s Schools supports the extension of the Qualified Zone Academy Bond (QZAB) and continuation of the Qualified School Construction Bond (QSCB) programs.
Rebuild America Schools supports the extension of QZABs originally enacted in the Taxpayer Relief Act of 1997 and extended with bipartisan support in all subsequent Congresses.
QZABs allow schools districts to modernize school facilities and to improve curriculum. QZABs are a cost effective program being used by school districts in every state to renovate, repair and modernize school buildings and classrooms.
The Qualified School Construction Bond (QSCB) program provides federal financing for the construction, rehabilitation, and repair of public school facilities. In 2010-2011 School districts in forty-nine states used $11 billion in QSCB bond financing to build and renovate more energy efficient 21st Century schools in communities across the country. Continuation of additional financing for the QSCB program was blocked in Congress.
Extension of the QZAB bond program was included in a package of tax extenders approved by the Senate Finance Committee this summer.
During the lame duck session of the 112th Congress, Rebuild America’s Schools will provide updates on extension of the school construction bonds to renovate, repair and modernize schools in local communities in every state.
116th Congress
Congress is meeting to address deficit reduction, tax, revenue and other issues. Extending important existing tax programs including school construction bonds supporting the renovation and repair of school facilities are being reviewed for extension and continuation.