WASHINGTON — The House last night was expected to approve a jobs bill that would expand two tax-credit bond programs for school projects to allow state and local issuers to receive direct Build America Bond-style payments from the Treasury Department instead of investors receiving tax credits.

While the Senate would not take up the bill until next year, municipal market participants said provisions in the House-approved Jobs for Main Street Act of 2010 — which would apply to qualified school construction bonds and qualified zone academy bonds — may represent a sea change with Congress beginning to revise the fledging tax-credit bond programs to reflect the more popular BABs.

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