Congress has passed, and the President has signed into law, the American Recovery and Reinvestment Act of 2009. The Stimulus Act authorizes the issuance of an additional $1.6 billon of new clean renewable energy bonds (NCREBs) and an additional $2.4 billion of qualified energy conservation bonds (QECBs). The PDF linked to this Alert describes the benefits of NCREBs and QECBs, who can apply for issuance authority and which projects qualify.