ORLANDO - The Treasury Department is hoping to release guidance within the next 30 days on how the direct payment option of the Build America Bonds program will work, as well as the amount of tax-credit bonds that each state will be able to issue under the economic stimulus law, a department official told attorneys meeting here yesterday.

Speaking at a general session at the National Association of Bond Lawyers' Tax and Securities Law Institute, John J. Cross 3d, tax legislative counsel for the Treasury's office of tax policy, said the department hopes the guidance will also provide the first date that cash payments can be made to issuers.

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