Please see the attached memo regarding Qualified School Construction Bonds (QSCB). The American Recovery and Reinvestment Act of 2009 (ARRA) authorized tax-credit bonds for school construction by authorizing, for each of the years 2009 and 2010, $11.2 billion in Qualified School Construction Bonds (QSCBs). Please refer to Commissioner’s Memo # FIN-10-001 for more detailed information.