WASHINGTON — The National Association of Bond Lawyers yesterday joined the growing chorus of muni market groups pushing for an extension beyond the end of 2010 of two provisions in last year’s $787 billion American Recovery and Reinvestment Act allowing banks to purchase tax-exempt bonds from issuers that otherwise might not have access to the market.

NABL recommended that Congress extend an ARRA provision that increased the small-issuer limit for bank-qualified bonds as well as a provision that extended the 2% de minimis rule for financial institutions to banks.  Both provisions “have accomplished their goals and could have a continued beneficial impact” beyond their Dec. 31 sunset dates, NABL said in a five-page advisory that  provides extensive technical and background detail on the provisions.

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