About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

CDFA Legislative and Federal Affairs Update - December 3, 2019

Having trouble viewing this newsletter? View it online.
Legislative and Federal Affairs Update
December 3, 2019
Subscribe
View Archives
Legislative and Federal Affairs Update

Spotlight

Announcing the CDFA Federal Policy Conference: April 14-15, 2020 in Washington, DC
The CDFA Federal Policy Conference will highlight policies and programs at the federal level, and will feature development finance experts and practitioners from key federal agencies, congressional offices, and policy organizations. Attendees will have access to networking opportunities with a dozen federal agencies, a federal grant application writing workshop, and so much more. Register now to secure your spot!

Legislative Features

ITC, PTC Extension Included in GREEN Act Discussion Draft
The House Ways and Means Committee today released a discussion draft and section-by-section summary of the Growing Renewable Energy and Efficiency Now (GREEN) Act, which delays the phasedown of the renewable energy production tax credit (PTC) and investment tax credit (ITC) until after 2024.

Congress Blocks Rescission of $7.6B Highway Funding in Short-Term Funding Bill
Congress this week passed another stopgap spending bill that extends through December 2020, which includes a provision that blocks a threatened $7.6 billion rescission of highway funding. The rescission of Highway Trust Fund contract authority was originally set to take effect in July 2020 under the provisions of the 2015 Fixing America's Surface Transportation (FAST) Act.

PABs Expansion Proposed for Rural Broadband
Members of Congress continue to propose bipartisan bills for expanding the use of tax-exempt private activity bonds in rural America with the latest legislation involving broadband and aggie bonds. A bipartisan Senate bill to expand the use of PABs for rural broadband would also allow state and local governments the option of issuing direct-pay bonds which would provide a 35% federal subsidy to the issuers to help offset their interest costs.

2019 Affordable Housing Credit Improvement Act Gains Steam with Bipartisan Support
As 2019 winds down, the Affordable Housing Credit Improvement Act of 2019 is gaining momentum in Congress. Among other things, the key proposals in the 2019 legislation would establish a minimum 4% credit rate for tax-exempt bond financed transactions, and increase the housing credit volume cap by 50% over five years.

Legislation Would Allow States to Sell Toll Credits for Transportation Matching Funds
The recently-introduced Toll Credit Marketplace Act would allow states to sell toll credits for revenue that would be used toward match requirements on federally-funded highway and transit projects. States would accrue credits from the federal government when they use toll revenue to fund projects that benefit the interstate commerce or interstate system.

Congressional Tax Writers Look for Opening to Move Legislation
Tax writers will press for a package that can be attached to must-pass legislation as Congress starts its year-end legislative sprint. A tax package could include the renewal of expired tax breaks known as extenders and expanded clean energy incentives.

Homes for All Act of 2019 Introduced in House of Representatives
Over 10 years, the Act would invest $1 trillion to build 12 million units of affordable housing. Of the money, $800 billion would fund 9.5 million units of public housing, and $200 billion would go to the national Housing Trust Fund to construct private affordable housing units.

Bill Introduced in Senate to Require QOF Reporting, Change Designation of Some OZs
The proposal requires information reporting from both Opportunity Funds and their investors. QOFs are required to report identifying information, amount and composition of assets, names and taxpayer identification numbers of investors, the amounts and dates of investments, which zones QOFs have invested in, and a variety of identifying information about the type of investments made.

Upcoming Events
CDFA Federal Policy Conference

CDFA // BNY Mellon Development Finance Webcast Series: Sourcing Local Capital for Community Projects
Tuesday. December 17, 2019 - 1:00 PM Eastern
From crowdfunding to co-ops, during this installment of the CDFA // BNY Mellon Development Finance Webcast Series, we will learn about the tools that are being used to bridge the financing gap and make local economies work.

Federal Features

Department of Energy Announces 2019 Clean Energy Education & Empowerment Awardees
The winners of the 2019 U.S. C3E awards, which will take place at the Eighth Annual U.S. C3E Women in Clean Energy Symposium, represent a diverse range of women leading in clean energy. The U.S. C3E Initiative is led by DOE in collaboration with the Texas A&M Energy Institute, MIT Energy Initiative, and Stanford Energy.

Climate Change Impacts Spur EPA to Improve Superfund Maps
The EPA will map the boundaries of the nation's most toxic sites in response to a government watchdog's concerns about climate change impacts. About 60% of the 1,571 Superfund sites are in areas that may be hit by flooding, storm surge, wildfires, or sea-level rise, the Government Accountability Office wrote in a report released Nov. 18.

CDFI Fund Releases Summary Report and Public Data for NMTC Program for FY 2003-2017
The CDFI Fund requires all CDEs that have been awarded NMTC allocations to submit an annual report detailing how they invested Qualified Equity Investment (QEI) proceeds in low-income communities. The Summary Report categorizes all CDE investments utilizing the North American Industry Classification System (NAICS) from FY 2003 - FY 2017.

Treasury Awards Over $188M to Support CDFI Investment in Low-Income Communities
The U.S. Department of the Treasury's CDFI Fund awarded 284 CDFIs $188.7 million in Financial Assistance awards today. The awards, through the FY2019 round of the CDFI Program and the Native American CDFI Assistance (NACA) Program, will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.

USDA Invests $1.4B in Rural Electric Infrastructure Improvements in 21 States
U.S. Department of Agriculture is investing $1.4 billion in projects in 21 states to build and improve rural electric infrastructure. USDA is providing financing through the Electric Loan Program. It will help build and improve 6,886 miles of line to strengthen reliability in rural areas. The loans include $255.8 million for investments in smart grid infrastructure that uses digital communications technology to detect and react to local changes in electricity usage.

EPA Provides Nearly $30M for Environmental Improvements on Tribal Lands in CA
EPA has awarded nearly $30 million to 87 tribes in California to fund projects on water quality monitoring, watershed protection and restoration, water and energy efficiency, and wastewater recycling and treatment. Tribes in California will also use EPA funding to develop programs to monitor, protect and improve air quality, and build public awareness of these efforts.

EDA Invests to Support Entrepreneurial Development Near UT Opportunity Zone
EDA is awarding a $718,968 grant to Weber State University in Ogden, Utah, to help develop a new training program for the Ogden-Clearfield Launchpad entrepreneurship center. The EDA grant project, to be located near a designated Opportunity Zone, will be matched with $720,702 in local funds and is expected to help create more than 60 jobs and generate $2 million in private investment.

Senators Announce $400K in Rural Business Development
US Senators announced $391,400 in federal funding through the USDA for rural business development and public safety. $76,000 will go towards a revolving loan fund to support small and emerging businesses in the area of Bedford. The fund aims to expand local businesses to create new jobs and stimulate the local economy.

EPA Provides Nearly $29M for Environmental Improvements on Tribal Lands in AZ
EPA announced nearly $29 million in funding to 19 tribes in Arizona to invest in environmental protection programs and water infrastructure. Funds will support water quality monitoring, watershed protection, restoration, water and energy efficiency, wastewater recycling and treatment, cleanup of open dumps, develop programs to monitor, protect and improve air quality, and ensure public awareness of these efforts.

Federal Financing Clearinghouse Spotlight

CDFA's Federal Financing Clearinghouse is the only online resource cataloging the development finance programs offered by the federal government. Check out our featured agencies and programs below. >>> Learn More

Agency Seal Export-Import Bank of the United States (EXIM Bank)

Fixed-Rate Term Financing for International Buyers (Direct Loans)
EXIM Bank direct loans secure competitive financing for international buyers. Fixed-rate financing up to 12 years in general and up to 18 years for renewable energy projects is offered to...

Agency Seal Northern Border Regional Commission

State Economic & Infrastructure Development (SEID) Investment Program
NBRC's Economic & Infrastructure Development Investment program provides federal grants (in the form of reimbursement for eligible expenses incurred) to employment generating projects that have...

Agency Seal U.S. Dept. of Agriculture (USDA)

Specialty Crop Block Grant Program (SCBGP)
The purpose of the Specialty Crop Block Grant Program (SCBGP) is to enhance the competitiveness of specialty crops. Specialty crops are defined as fruits, vegetables, tree nuts, dried fruits,...

Agency Seal U.S. Dept. of Commerce (DOC)

University Centers Economic Development Program
A partnership of the federal government and academia that makes the varied and vast resources of universities available to the economic development community.

New Additions to the Online Resource Database

Summary of the GREEN Act Discussion Draft
Energy Finance | Legislative | Tax Credits
This is a section-by-section summary of the Growing Renewable Energy and Efficiency Now ("GREEN") Act. The GREEN Act would extend the renewable energy production tax credit (PTC) and investment tax credit (ITC) until 2024. It would also extend the Section 25D, Section 179D and Section 45L energy-efficiency deductions and credits through 2024, as well as create energy credits for manufacturers.

Opportunity Zone Reporting & Reform Act of 2019 - Detailed Summary
Legislative | Opportunity Zones
The proposal requires information reporting from both Opportunity Funds and their investors. QOFs are required to report identifying information, amount and composition of assets, names and taxpayer identification numbers of investors, the amounts and dates of their investments, which zones the funds have invested in, and a variety of identifying information about the type of investments made.


The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

Archives

Displaying 1 - 30 of 92

March 5, 2024
February 6, 2024
January 2, 2024
December 5, 2023
November 7, 2023
October 3, 2023
September 5, 2023
August 1, 2023
July 4, 2023
June 6, 2023
May 2, 2023
April 4, 2023
March 7, 2023
February 7, 2023
January 3, 2023
December 6, 2022
November 1, 2022
October 4, 2022
September 6, 2022
August 2, 2022
July 5, 2022
June 7, 2022
May 3, 2022
April 5, 2022
March 1, 2022
February 1, 2022
January 4, 2022
December 7, 2021
November 2, 2021
October 5, 2021




CDFA National Sponsors

  • BNY Mellon
  • Bricker Graydon LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • Frost Brown Todd LLP
  • Grow America | Formerly NDC
  • Hawes Hill and Associates LLP
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • PGAV Planners, LLC
  • Raza Development Fund
  • SB Friedman Development Advisors
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor