Build America Bonds

A rules-based, modified market-value weighted index designed to track the performance of U.S. dollar denominated, federally taxable, direct payment municipal bonds issued under the Build America Bond program. The American Recovery and Reinvestment Act of 2009 created the Build America Bond program, which authorizes state and local governments to issue Build America Bonds as taxable bonds in 2009 and 2010 to, generally speaking, finance any governmental purpose for which they otherwise could issue tax-exempt governmental bonds.

Index Details

as of 2/14/2019 12:00:00 AM

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