Senator Sherrod Brown (OH) has introduced the IMPACT Act which would help to create clean energy jobs by supporting small and medium manufacturers' transition to the clean energy economy. A total of $30 billion would be distributed to states to establish revolving loan funds to assist small and medium-sized firms in retooling, expanding or establishing domestic clean energy manufacturing operations, and in becoming more energy efficient. The Hollings Manufacturing Extension Partnership (MEP), a division of the Department of Commerce's National Institute of Standards and Technology, would also receive $1.5 billion in federal funds over five years to help manufacturers access clean energy markets and adopt innovative, energy-efficient manufacturing technologies. CDFA fully supports the IMPACT Act and is working to build broad based support in the Senate and House.

CDFA's legislative agenda represents a diverse cross section of development finance industry issues. In 2010, CDFA will focus on a variety of efforts that will extend new provisions created under the federal stimulus bill while also promoting new ideas and innovations in the development finance industry. The 2010 CDFA legislative agenda has been approved by both the CDFA Legislative Committee and the CDFA Board of Directors and is now available online.

Industrial development bonds (IDBs) are the number one form of public financing for small and medium sized manufacturers. IDBs have been used to financed thousands of business expansions and new investment for over 30 years yet the federal regulations regarding IDB usage remain flawed. CDFA has worked since its inception to address these outdated and arcane rules with great success. The Council will continue to address these issues in the coming year by focusing on several distinct legislative fixes in 2010. CDFA will also continue to publish the National Volume Cap Resource Center highlighting the use of volume cap and IDBs nationwide.

Development finance requires innovative and sustainable solutions to the challenges faced by state and local government. To support this policy area, CDFA has established the Sustainable Public Finance Coalition. The coalition will advocate for increased emphasis on financing for sustainable projects in three key areas: energy, green and infrastructure.

Tax increment financing (TIF) is one of the most widely used forms of development finance today. CDFA has taken the lead nationally to bring the TIF industry together through the creation of the Tax Increment Finance Coalition (TIFC). The TIFC is a standing coalition within CDFA dedicated to professionals and organizations working in the tax increment finance industry. In developing the TIFC, CDFA becomes the first national organization to address TIF head on.

Federal financing remains the number one source of funding for many state and local economic development agencies. CDFA recognizes that the resources provided by the federal government are complex and spread out among numerous agencies and departments and the Council is prepared to be a leader in navigating users through the myriad of programs. In addition, CDFA is committed to ensuring the long-term availability of funding and finance programs offered by the federal government.

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February 19, 2009 - CDFA's legislation to expand the use of industrial development bonds (IDBs) for new technology manufacturing was signed into law by President Barack Obama as part of the $787 billion American Recovery and Reinvestment Tax Act of 2009. This is a major legislative victory for CDFA and the entire development finance industry.

July 31, 2008 - President Bush signed the highly anticipated Housing Bill into law in July 2008. Included in the bill is a CDFA-supported provision allowing Federal Home Loan Bank members to issue letters of credit on tax-exempt industrial development bonds (IDBs). As part of the Council's legislative agenda, CDFA's legislative team had been actively working towards the passage of this legislation for over a year.

May 18, 2006 - After nearly two years of relentless lobbying and grassroots efforts, CDFA has succeeded in passing its number one legislative priority through the United States Congress when the Senate approved the final version of the Tax Increase Prevention and Reconciliation Act of 2005. Included in the final version of the tax bill is the Council's amendment accelerating an increase in the capital expenditure limit on IDBs from September 30, 2009 to December 31, 2006. The increase raises the capital expenditure limit from $10 million to $20 million.

October 11, 2004 - The US Senate passed significant legislation that reinforces CDFA's legislative efforts on improving the use of small issue industrial development bonds. As agreed to and passed by the House last week, the Senate today approved HR 4520 that effectively raises the capital expenditure limit on projects financed with industrial development bonds to $20 million starting in 2009.