Industrial Development Bonds: Achievement of Public Benefits is Unclear : Report to the Chairman, Human Resources and Intergovernmental Relations Subcommittee, Committee on Government Operations, House of Representatives
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Achievement of Public additional criteria alternative investment amount of IDBS assisting start-up companies Benefits From IDBs bond financing cancelled without IDBS companies from moving Congressional Research Service cost of capital creating jobs creditworthy criteria for approving direct IDBS economic development authorities economically distressed areas finance manufacturing facilities financed with IDBS GAO'S IDB defaults IDB financing IDB issuance IDB volume IDBS create IDBs Is Unclear IDBS issued IDBs Seldom Default IDBS toward achieving IDBS were paid Indiana industrial development bonds Internal Revenue Code investors issuance and repayment issuance process issue industrial development issued in 1991 issuers Jersey job creation/retention letter of credit lower cost officials Ohio operations to foreign PABS paid off early prepayments private activity bonds rate of default receiving IDBS Remain in Manufacturing requirement for IDBS scaled-down project small issue IDBS small issue industrial specific tax revenue forgone tax-exempt bonds tax-exempt financing three states reviewed volume cap