Technical Assistance


Legislative and Federal Affairs Update - August 1, 2017

Legislative and Federal Affairs Update
August 1, 2017
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Legislative and Federal Affairs Update


CDFA Submits Tax Reform Recommendations to SFC
CDFA has submitted tax policy recommendations to the Senate Finance Committee as the SFC takes its initial steps toward comprehensive tax reform. The submission comes following a request from SFC Chairman Orrin Hatch for advice and suggestions on ways to improve the tax code from tax policy stakeholders.

Economic Development Districts: A Half-Century of Paving Paths to Stronger Communities
This year, many of the nation's first federally-designated Economic Development Districts (EDDs) are turning 50! The EDA highlights a few examples of numerous successes EDDs have accomplished through the years.

Legislative Features

Senate Appropriations Approves THUD Spending
The Senate Appropriations Committee has approved transportation and housing spending for fiscal 2018 that includes $45 billion of federal highway funding to states, $550 million for the TIGER grant program, and $3 billion for the Community Development Block Grant (CDBG) program.

Brownfields Reauthorization Act Moves to House Floor
The Brownfields Reauthorization Act, authored by Reps. Katko (R-NY) and Esty (D-CT) is on its way to a House of Representatives floor vote. The bill reauthorizes the Brownfields Program through 2022 at $200 million/year, with an additional $50 million annually to states for their brownfields cleanup programs.

HR 1624 Would Encourage Use of Munis
Rep. Luke Messer (R-IN) is shepherding a bill through the House that would revise current regulations to encourage financial institutions to work with municipalities to make infrastructure improvements more affordable.

MBFA Submits Comments on Tax Reform to SFC
The Municipal Bonds for America coalition, of which CDFA is a member, submitted recommendations to Senate Finance Chairman Orrin Hatch following Hatch's request for expert and stakeholder input on tax reform.

House Subcommittee Proposes Cuts to HUD Budget
The House Appropriations Transportation-HUD Subcommittee released its $56.5 billion FY 2018 spending bill July 10 . For HUD, the bill provides net appropriations of $38.3 billion, $487 million (1.3 percent) less than FY 2017. The bill provides $2.9 billion for CDBG and $850 million for HOME.

Congress Will Rethink Investing in Cities
Rep. Dan Kildee (D-MI 5th District) has announced that he is starting a new congressional forum to rethink how national policymakers invest in cities. The initiative, titled "The Future of America's Cities and Towns," will include policy discussions with local, state and federal elected officials to focus on the challenges facing older, industrial communities.

Bill Would Lift Caps on PABs Used to Finance Water, Sewer Infrastructure
Advocates of removing state volume caps for tax exempt private activity bonds used to finance water and sewer projects have once again reintroduced bipartisan legislation in the House.

Upcoming Events
CDFA Summer School

CDFA Brownfields Financing Webinar: Hazardous to Healthy: Financing Solutions for Recovering Brownfields
August 31, 2017 - 2:00 - 3:30 PM Eastern
Join CDFA, our technical assistance partners, and experienced brownfield communities as we discuss how the finance toolbox can be used to compliment the redevelopment and cleanup of your brownfield project.

Federal Features

Report: NMTC Valuable to Rural America
The New Markets Tax Credit Coalition released a report detailing an unprecedented level of private investment in rural communities around the United States. The NMTC has helped rural communities increase healthcare access, financing 107 rural healthcare facilities or clinics, totaling nearly $800 million in project costs between 2003 and 2014.

EB-5 Aids Development of Renton, WA Hotel
A 12-story, 347-room hotel, in Renton, WA was built and financed with money invested through the EB-5 immigrant investor program. The new hotel created 175 jobs for local employees.

EPA Selects 12 Projects to Apply for WIFIA Loans
The US EPA is s inviting 12 projects in nine states to apply for Water Infrastructure Finance and Innovation Act (WIFIA) loans.This year's projects will leverage more than $1 billion in private capital and other funding sources to help finance a total of $5.1 billion in water infrastructure investments.  

Opinion: The Benefits of Private Financing for Public Works
Authors Sam Barend and Mary Peters provide several arguments in defense of using public-private partnerships to support both urban and rural infrastructure projects.

Chao: TIGER NOFA Coming Soon
According to Transportation Secretary Elaine Chao, the DOT could begin accepting applications by the end of July for the $500 million of TIGER grants authorized in the omnibus budget measure for fiscal 2017. 

Treasury Rules on TEB Regulations
The Treasury released Notice 2017-38, which acknowledged the proposed regulations that would re-define the term "political subdivision" for issuance of tax-exempt bonds as one of eight unduly burdensome regulatory projects and should be reconsidered for modification or repeal.

Restructured Federal Freight Grants to Offer 'More Bang for the Buck'
The Trump Administration has reconfigured and renamed a $4.5 billion discretionary grant program dedicated to freight-related transportation infrastructure to put more emphasis on projects that can leverage additional state, local, or private financing.

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 National Aeronautics and Space Administration (NASA)

Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has...

Agency Seal National Science Foundation (NSF)

Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has...

Agency Seal U.S. Citizenship and Immigration Services (USCIS)

EB-5 Immigrant Investor Program
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program,...

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

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  • Z. The Bond Buyer
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