Industrial Development Bonds
RCED-92-247R: Published: Jul 24, 1992. Publicly Released: Aug 24, 1992.
Additional Materials:
- Full Report:
Contact:
Pursuant to a congressional request, GAO provided information on small issue industrial development bonds (IDB), issued by state or local governments to help private companies finance the construction or expansion of small manufacturing projects. GAO noted that: (1) the federal government forgoes about $2 billion annually in tax revenue for IDB interest, which is tax exempt; (2) in 1991, states issued about $1.2 billion in IDB; (3) the Internal Revenue Code (IRC) only requires that IDB be restricted to manufacturing projects that do not exceed $10 million and does not require IDB issuers to establish criteria to assess public benefits of IDB-financed projects; (4) most states and localities do not have any criteria other than IRC requirements for issuing IDB; and (5) in 1991, Ohio approved 33 IDB-financed projects, but generally did not target IDB approval for such public benefits as fostering economic development in distressed areas, creating jobs, assisting start-up companies, and keeping manufacturing operations in the United States.
Nov 23, 2020
-
Consumer Privacy:
Better Disclosures Needed on Information Sharing by Banks and Credit UnionsGAO-21-36: Published: Oct 22, 2020. Publicly Released: Nov 23, 2020.
Nov 19, 2020
-
Consumer Product Safety Commission:
Actions Needed to Improve Processes for Addressing Product Defect CasesGAO-21-56: Published: Nov 19, 2020. Publicly Released: Nov 19, 2020.
Oct 30, 2020
-
Small Business Loans:
SBA Generally Incorporated Key Elements for Estimating Subsidy Cost of 7(a) ProgramGAO-20-618: Published: Sep 30, 2020. Publicly Released: Oct 30, 2020.
Oct 13, 2020
-
Aviation Consumer Protection:
Increased Transparency Could Help Build Confidence in DOT's Enforcement ApproachGAO-21-109: Published: Oct 13, 2020. Publicly Released: Oct 13, 2020.
Oct 1, 2020
-
Small Business Administration:
COVID-19 Loans Lack Controls and Are Susceptible to FraudGAO-21-117T: Published: Oct 1, 2020. Publicly Released: Oct 1, 2020.
Sep 30, 2020
-
Small Business Research Programs:
Many Agencies' Award Issuances Are Not Timely; Some Practices May Improve TimelinessGAO-20-693: Published: Sep 30, 2020. Publicly Released: Sep 30, 2020.
Sep 28, 2020
-
Intellectual Property:
Additional Agency Actions Can Improve Assistance to Small Businesses and InventorsGAO-20-556: Published: Aug 27, 2020. Publicly Released: Sep 28, 2020.
Jul 30, 2020
-
Small Business Contracting:
Better Documentation and Reporting Needed on Procurement Center RepresentativesGAO-20-462: Published: Jun 30, 2020. Publicly Released: Jul 30, 2020.
Jun 29, 2020
-
Small Business Subcontracting:
Oversight of Contractor Compliance with Subcontracting Plans Needs ImprovementGAO-20-464: Published: May 28, 2020. Publicly Released: Jun 29, 2020.
Jun 22, 2020
-
Small Business Development Centers:
Reevaluation of How SBA Sets Initial Funding Estimate Needed to Help Reduce BurdenGAO-20-457: Published: May 22, 2020. Publicly Released: Jun 22, 2020.
Looking for more? Browse all our products here