U.S. Supreme Court Maintains Municipal Bond Tax Breaks


	U.S. Supreme Court Maintains Municipal Bond Tax Breaks

Forbes Markets

5-19-2008 5:46 PM

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Forbes Markets says:

Had it not, nearly 500 funds , with assets of $375 billion, organized around bonds issued in a single-state would have had to disband or re-organize.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c0f75a77-08b4-43e1-bea9-4bd3cc84bc25/15810DAC-92CB-411F-9379-ACF249ADE009/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/businessNews/idUSN1953396420080519?feedType=nl&feedName=usdai" href="http://www.reuters.com/article/businessNews/idUSN1953396420080519?feedType=nl&feedName=usdai" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/businessNews/idUSN1953396420080519?feedType=nl&feedName=usdai"><P>The U.S. Supreme Court on Monday ruled that cities and states can keep offering special tax breaks on their municipal bonds, a decision that preserves a top incentive for investors in the $2.5 trillion municipal bond market.</P><SPAN id="midArticle_1"></SPAN>
<P>The 7-2 high-court ruling reversed a Kentucky appeals court decision that said it was unconstitutional for the state to grant tax breaks on interest from bonds issued in Kentucky while taxing interest from bonds issued in other states.</P><SPAN id="midArticle_2"></SPAN>
<P>The high-court decision was an important victory for municipal bond issuers in most states. It allows them to keep a valuable tool for holding down financing costs for public projects. Without the special tax breaks, municipal bond issuers would have to compensate investors with higher interest rates.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/15810DAC-92CB-411F-9379-ACF249ADE009/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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