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Legislative and Federal Affairs Update - May 1, 2018

Legislative and Federal Affairs Update
May 1, 2018
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Legislative and Federal Affairs Update

Spotlight

Small Business Development & Impact Investing White Paper
CDFA's new Small Business Development & Impact Investing White Paper documents the potential of a collaboration between Impact Investors and high performing Development Finance Agencies (DFAs) to fill the capital gaps facing small businesses and to accelerate DFAs as a major source of capital to enable small businesses to grow, create jobs and spur economic and community development.

Legislative Features

Rep. Lofgren Introduces Clean Energy Victory Bond Act
The Clean Energy Victory Bond Act of 2018 would, among other things, authorize the Secretary of the Treasury to issue $7.5 billion in Clean Energy Victory Bonds to promote the domestic development and deployment of clean energy technologies required for the 21st century.

House FAA Bill has $1B for Smaller Airports
Smaller, non-hub airports in rural areas were the big winners in the fight for additional infrastructure spending in the FAA reauthorization bill recently passed by the House. The five-year Federal Aviation Administration Reauthorization Act of 2018 authorizes a $1 billion annual increase in funding for this new program.

Key Considerations on Tax Reform and the Muni Market
The Municipal Analysts Group of New York held a panel on the impact of tax reform on the muni market. This article provides the responses to key questions from George Friedlander that relate to how tax reform is/will affect the municipal market.

New Bill Would Revive Brownfields Tax Incentive
U.S. Rep. Mike Turner (R-OH) has introduced bipartisan legislation that would authorize tax deductions toward the cleanup and redevelopment of brownfields. H.R. 5579, would amend the Internal Revenue Code of 1986 to extend expensing of environmental remediation costs through 2021.

Upcoming Events
Intro EB-5 Finance WebCourse

CDFA Federal Financing Webinar Series: U.S. Department of Agriculture (USDA)
June 14, 2018 - 2:00 PM Eastern
In this webinar, experts on USDA financing programs will be on hand to discuss the myriad rural development finance programs offered by the USDA, as well as how rural communities can effectively access and deploy USDA grants and loans. The focus of the webinar will be on the Community Facilities (CF) Program, the Rural Energy for America Partnership (REAP), and Rural Business Development Programs.

Federal Features

EPA Announces $54.3M in Brownfield Grants for Contaminated Properties
EPA has selected 144 communities for brownfields environmental Assessment, Revolving Loan Fund, and Cleanup grants. The 221 grants totaling $54.3 million will provide communities with funding to assess, clean up and redevelop underutilized properties while protecting public health and the environment.

NIFA Announces New Funding for Sustainable Agricultural Systems
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced the availability of up to $80 million in funding for integrated projects to increase sustainable production of food and agricultural products.

IRS Releases FAQs on Opportunity Zones
The IRS has released a list of frequently asked questions regarding Opportunity Zones. According to the FAQs, taxpayers will self-certify to become Qualified Opportunity Funds (thus no approval by the IRS is required).

CDFI Case Study on the California Capital Access Programs
Capital access programs (CAPs) provide credit enhancement for small-business loans by creating a fund that the lender can claim against to cover loans that default. This brief details the structure of and lessons from the largest of the CAPs, the California Capital Access Program (CalCAP).

U.S. DOE Creating C-PACE Working Group
The Commercial PACE Working Group is an exciting new cohort of state and local governments working together to learn about, launch, and refine C-PACE financing programs. Submissions of an expression of interest form for the working group are due by April 20, 2018.

HUD Awards $28B in CDBG-DR Grants
The U.S. Department of Housing and Urban Development (HUD) has awarded nearly $28 billion to support long-term disaster recovery in hard-hit areas in nine states, Puerto Rico and the U.S. Virgin Islands. 

Treasury, IRS Announce 18 OZ Designations
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have designated Opportunity Zones in 18 states and territories. The 18 states and territories receiving designations are only a part of the first group, and additional state designations will be named in the coming weeks.

EDA Announces Availability of $587M for Disaster Recovery
The U.S. Economic Development Administration is making $587 million available to eligible grantees in communities where a Presidential declaration of a major disaster was issued under the Stafford Act as a result of Hurricanes Harvey, Irma and Maria, wildfires and other natural disasters in 2017.

USDA and SBA Join Forces to Help Businesses in Rural America
U.S. Secretary of Agriculture Sonny Perdue and Administrator Linda McMahon, the head of the Small Business Administration (SBA), recently signed an agreement between the U.S. Department of Agriculture (USDA) and the SBA to promote stronger businesses and agricultural economies in rural America. 

Treasury Memo Offers Recommendations to Improve CRA
The Department of the Treasury memorandum focuses on regulatory and administrative changes to CRA that are consistent with its original intent. Recommended changes include common sense reforms that reduce the complexity and burden on banks, regulators, and community advocates.

EPA Announces $5.5B WIFIA NOFA
The U.S. Environmental Protection Agency (EPA) has announced the availability of funding that could provide as much as $5.5 billion in loans, which could leverage over $11 billion in water infrastructure projects through the Water Infrastructure Finance and Innovation Act (WIFIA) program.

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 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,...

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

Manufacturing Extension Partnership (MEP)
The objective of the Department of Commerce's (DOC) National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership (MEP) Program is to increase productivity, enhance...

Agency Seal U.S. Dept. of Defense (DOD)

Research and Technical Assistance Program
The Office of Economic Adjustment (OEA), a Department of Defense (DOD) field activity, makes Research and Technical Assistance grants and cooperative agreement with state or local governments and ...


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


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CDFA National Sponsors

  • Alaska Industrial Development and Export Authority
  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • Petros PACE Finance
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Wilmington Trust
  • Z. The Bond Buyer
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