What are Gulf Coast Recovery Bonds?
Gulf Coast recovery bonds were issued March 29, 2006-September 30, 2007. This special I Bond designation was to encourage continued public support for recovery efforts in the region severely damaged by hurricanes. The Gulf Opportunity Zone Act of 2005 contained a provision encouraging Treasury to make this designation. The proceeds from the sales of savings bonds were not earmarked for specific purposes but went into Treasurys general fund and spent according to appropriations, including those for Gulf Coast recovery, passed by Congress and signed into law by the President.
Related Questions
- Do the ARRA reporting requirements apply to projects or purchases funded through Recovery Zone Bonds, Tribal Economic Development Bonds, Qualified School Construction Bonds, or Build America Bonds?
- Who is eligible to use Recovery Zone Facility Bonds, and what can they be used for?
- What are Gulf Coast Recovery Bonds?
