WASHINGTON — Members of the Government Finance Officers Association’s governmental debt management committee on Friday unanimously agreed to propose a revised policy on direct-subsidy and tax-credit bonds that acknowledges Build America Bonds have emerged as a significant sector of the municipal market.

The move marks a departure from its earlier policy on direct-subsidy bonds, also called taxable bond options, which dated back to President Jimmy Carter’s administration and staunchly opposed them. The committee also unanimously signed off on an advisory document outlining things issuers should consider if issuing BABs. The votes came during a meeting the committee held here.

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