WASHINGTON — The federal government should make tribal economic development bonds a permanent tool for Indian tribes and should consider raising or removing the current $2 billion ceiling on the program given the clear demand that exists for the bonds, an advisory committee said in a report sent to the Internal Revenue Service this week.

The committee also recommended a detailed process under which an issuer of new direct-pay bonds like Build America Bonds could voluntarily come to the IRS and have its subsidy payment reduced to resolve inadvertent violations of tax law requirements.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.