WASHINGTON - House appropriations and tax committees yesterday described several municipal bond initiatives among the $550 billion of spending provisions and $275 billion of targeted tax cuts to be included in economic stimulus legislation, which lawmakers hope to take up beginning next week.

The American Recovery and Reinvestment Plan's muni bond provisions would repeal the alternative minimum tax for new private-activity bonds, allow financial institutions to purchase more municipal bonds, and authorize additional tax-credit bonds. They would also provide $30 billion for highway and bridge construction, $8 billion for clean and drinking water state revolving funds, and $1 billion for community development block grants.

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