Washington DC Massage Parlors: Treasury Releases Recovery Zone Allocations
Written on June 17, 2009 – 9:04 am | by rubmedownthere
The notice states that RZEDBs can be issued to reimburse qualified expenditures incurred since the enactment of the stimulus, as well as to refund temporary short-term debt issued for qualified projects since Feb. 17. The yield on RZEDBs is to be reduced by the 45% credit, according to the notice.
For RZFBs, 95% or more of the net proceeds of the bonds must be used for recovery zone property, which is defined as property that was constructed, reconstructed, renovated, or acquired by purchase after it was deemed in a recovery zone; property first used in a recovery zone by the taxpayer; and substantially all the property is in the recovery zone and is being used as a qualified business.
A qualified business is defined as any trade or business except residential rental property or certain businesses such as private golf courses, massage parlors, hot tub facilities, suntan facilities, racetracks and other gambling facilities, or liquor stores.
See the full article from “Bond Buyer”