The recently enacted American Recovery and Reinvestment Act of 2009 (the “Recovery Act”) opens the door for a much wider range of capital investment to be financed with lower cost tax-exempt bonds. The Recovery Act offers the benefits of low interest tax-exempt financing to producers of intangible property, expanding prior law which was restricted to traditional manufacturing and certain processing activities. However, companies interested in such financing need to act quickly as the opportunity is only available for bonds issued in 2009 or 2010.
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