Qualified Energy Conservation Bonds
Qualified Energy Conservation Bonds (QECBs) were first authorized by Congress in 2008 with a national volume cap limit of $800 million. The American Recovery and Reinvestment Act of 2009 (ARRA) increased the QECB volume cap by $2.4 billion to a total of $3.2 billion. Texas was allocated $252,378,000. The state awarded allocations to large municipalities, issuers may apply to the state for any remaining authority.
On December 22, 2017, the President signed the Tax Cuts and Jobs Act into law aside from lowering tax rates, the Act eliminated Advance Refundings and Tax Credit Bonds.