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CDFA Legislative and Federal Affairs Update - January 3, 2023

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Legislative and Federal Affairs Update
January 3, 2023
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Legislative and Federal Affairs Update

Legislative Features

President Biden Signs $1.7T Government Spending Bill
President Joe Biden signed a $1.7T spending bill that includes several administration priorities and officially avoids a government shutdown, ending what he called a "year of historic progress." The legislation includes $772.5B for nondefense discretionary programs and $858B in defense funding. It will also boost spending for disaster aid, college access, child care, mental health, and food assistance.

Bridge Connecting KY and OH to Receive $1.6B from Bipartisan Infrastructure Law
A decades-long project to improve the flow of traffic and commerce between Kentucky and Ohio can now move forward with a cash infusion from the federal government. The Brent Spence Bridge Corridor Project is receiving $1.6B in one of the largest infrastructure grants in U.S. history. The funding comes from the Bipartisan Infrastructure Law enacted by Congress last year. The Brent Spence Bridge connects Kentucky and Ohio and is a key corridor for the nation's supply chain.

U.S. Economic Development Administration Receives $1.6B in Omnibus Bill
In the Omnibus Spending Bill, enacted on December 29, 2022, the U.S. Economic Development Administration (EDA) received $1.6B for FY 2023. EDA will receive $750M for grants for Regional Technology and Innovation Hubs, the Recompete Pilot Program, and the Build to Scale Program, as well as $500M for infrastructure and recovery efforts for areas impacted by natural disasters and $363M for other Economic Development Assistance programs.

Golden Gate Bridge to Receive $400M Under Bipartisan Infrastructure Law
The Golden Gate Bridge will soon receive $400M from the Federal Highway Administration (FHWA) under the Bipartisan Infrastructure Law. These funds will be used to strengthen one of the Bay Area's most vital arteries and bolster its resilience against earthquakes. The Bridge's north and south approaches were retrofitted in 2013, and the newly-announced federal funding will allow the middle section to undergo vital seismic upgrades and ensure continued structural integrity.

Bureau of Reclamation Requests Tribal Consult on Inflation Reduction Act
The Bureau of Reclamation published a notice to announce that it plans to consult with federally recognized Indian Tribes in Reclamation's 17 western states on implementation of the Inflation Reduction Act as it applies to Tribes. Under the Inflation Reduction Act, The Bureau received $550M for Domestic Water Projects, $25M for Canal Improvements Projects, and $4B for Drought Mitigation in the Reclamation states.

Confederated Tribes of Warm Springs, OR to Receive $24M for Water Infrastructure
The EPA and Indian Health Service have announced $23.8M in funds to the Confederated Tribes of Warm Springs, Oregon, for a sorely needed water treatment plant, which was originally built in the early 1980s. The EPA stated much of the funding going to build the replacement facility will come from the recently passed Bipartisan Infrastructure Law.

Bipartisan Infrastructure Law Provides $200M in Funding for Twin Cities, MN
New federal funding will allow the Minneapolis-St. Paul Metropolitan Council to potentially give the green light to many more transportation projects this year. In a normal funding cycle, the Met Council would have about $200M in federal funding to dole out for long-term projects. Under the new infrastructure plan signed into law last year, that number is more than $325M.

Massachusetts Announces $180M Investment in Offshore Wind Infrastructure
Governor Charlie Baker and Lt. Gov. Karyn Polito announced $180M in funding for a variety of projects that will work to build up the state's offshore wind industry. Some of the $180M is coming from the economic development bill, while federal dollars from the American Rescue Plan Act will fund the rest of the investment.

Bipartisan Infrastructure Bill Accelerates Nebraska's Plans for 600-Mile Expressway
Nebraska is in the process of crisscrossing the state with a new expressway system, and the final push to complete the multi-decade project will be aided by Infrastructure Investment and Jobs Act (IIJA) funding. Nebraska is already 30 years and $1.8B into adding a 600-mile expressway connecting every NE community with more than 15,000 people. After decades of delay, the project's timeline is finally moving in the other direction thanks to the IIJA.

Connecticut Receiving $5.4B from Bipartisan Infrastructure Law
Connecticut will receive $5.38B over five years from the federal Infrastructure Investments and Jobs Act, including nearly $1.07B during fiscal year 2022. The Connecticut Department of Transportation (CTDOT) recently highlighted the infrastructure investments and transportation safety improvements made due to this funding.

Maine Solar Projects Receive $80M in USDA Loans
The U.S Department of Agriculture (USDA) Rural Energy for America program is providing loans for Solar projects across Maine. The program is investing $285M in infrastructure projects nationwide from the federal Inflation Reduction Act to combat climate change and expand access to clean energy in rural America.

California Awards $1B for Walking and Biking Projects
The California Transportation Commission approved $1B for 93 new walking and biking projects for disadvantaged communities as part of the 2023 Active Transportation Program and allocated nearly $878M for projects to repair and improve transportation infrastructure throughout CA. The allocation includes more than $209M from the federal Infrastructure Investment and Jobs Act (IIJA) and more than $339M from the 2017 Road Repair and Accountability Act.

U.S. Treasury Announces Approval of 7 Additional State Plans for the SSBCI Capital Program
The U.S. Department of the Treasury announced the approval of seven additional state plans for up to $1.5B in funding under the State Small Business Credit Initiative (SSBCI). The states that received approval were Florida, Georgia, Illinois, Louisiana, North Dakota, Oklahoma, and Virginia. Treasury has now announced the approval of state plans totaling up to $6.3 billion in SSBCI funding.

Upcoming Events
Fundamentals of Economic Development Finance Course

SSBCI Coalition Meeting - Virtual
January 27, 2023 - 1:00 PM - 2:00 PM Eastern

SSBCI Learning Series - Compliance: Program Reporting Requirements
February 16, 2023 - 2:00 - 4:00 PM Eastern
During the 2023 SSBCI Learning Series, CDFA will elevate conversations and host sessions geared toward successfully implementing new SSBCI programs and financial products, reaching targeted small businesses and business sectors, and effective program reporting and compliance strategies.

Federal Features

Minority Business Development Agency Announces $93M for Underserved Entrepreneurs
The U.S. Department of Commerce launched the Capital Readiness Program grant competition, which dedicates $93.5 million to help minority and other underserved entrepreneurs launch and scale their businesses. This program, administered by the Minority Business Development Agency will provide funding to incubators and accelerators across the country, with expertise to assist and train minority and other underserved entrepreneurs seeking resources, tools, and technical assistance to start or scale their businesses in high-growth industries such as healthcare, climate resilient technology, asset management, infrastructure, and more.

U.S. Treasury Announces Capital Projects Fund Awards for Affordable, High-Speed Internet
The U.S. Department of the Treasury announced the approval of broadband projects in three additional states under the American Rescue Plan's Capital Projects Fund: Illinois, Indiana, and North Carolina. Together, these states will use their funding to connect over 170,000 homes and businesses to affordable, high-speed internet. The total amount of projects in these states total more than $444M.

EPA Announces $263M WIFIA Loan to Boise, ID for Wastewater Infrastructure
The U.S. Environmental Protection Agency (EPA) announced a $263M Water Infrastructure Finance and Innovation Act (WIFIA) loan to the City of Boise, Idaho, to support its Water Renewal Services Capital Investments Project. With this WIFIA loan, EPA is helping the City of Boise improve wastewater treatment processes to protect the Boise River's water quality and ultimately recharge the drought-burdened Boise River with high-quality effluent.

USDA Invests $102M for Underserved Rural People Across the U.S.
The U.S. Department of Agriculture (USDA) Rural Development is investing $102M to expand access to housing and water infrastructure for underserved rural people who live and work in 47 states and American Samoa. The 263 projects in which USDA is investing will create economic opportunities and improve the lives of hundreds of thousands of people in rural America.

Wilcox County, AL Receives $13.6M from USDA for Water Infrastructure
The U.S. Department of Agriculture has announced an investment of $13.6M to improve water infrastructure in Wilcox County. Officials said the funds will expand the Wilcox County Water and Sewer Authority's water system, allowing for clean, safe, and modern drinking water utility services in areas that are not currently served by a modern water system.

USDA Invests $285M for Critical Infrastructure in Rural America
The U.S. Department of Agriculture (USDA) announced that it is investing $285M in critical infrastructure to lower energy costs, expand access to clean energy for people across rural America, and combat climate change. USDA is also making an additional $300M available under the Rural Energy for America Program, including $250M through the Inflation Reduction Act, to spur further investment.

USDA Announces $325M in Pilot Projects for Climate-Smart Commodities
The U.S. Department of Agriculture (USDA) is investing an additional $325M for 71 projects under the second funding pool of the Partnerships for Climate-Smart Commodities effort, bringing the total investment from both funding pools to over $3.1B. The program is expanding markets for American producers who produce climate-smart commodities, leverage greenhouse gas benefits of climate-smart production, and provide meaningful benefits to producers.

EPA Announces $26M to Support Rural and Small Community Water Systems
The U.S. Environmental Protection Agency (EPA) announced the availability of $25.7M in grant funding for organizations to provide technical assistance and training to support small drinking water and wastewater systems that are often located in rural communities. EPA's funding will help ensure that drinking water in these communities is safe and that wastewater is treated before it is responsibly returned to the environment.

$186M WIFIA Loan to Modernize Wastewater Infrastructure in Chattanooga, TN
The U.S. Environmental Protection Agency (EPA) announced a $186M Water Infrastructure Finance and Innovation Act (WIFIA) loan to Chattanooga, TN, to support its Wastewater Compliance and Sustainability Project. With this WIFIA loan, EPA is helping the City of Chattanooga improve its wastewater system's energy efficiency and resilience to extreme weather while saving ratepayers millions of dollars.

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 Federal Communications Commission (FCC)

Emergency Broadband Benefit Program
The Emergency Broadband Benefit Program provides support for broadband services and certain devices to help low-income households stay connected during the COVID-19 pandemic.

Agency Seal Northern Border Regional Commission

State Planning Grants
The NBRC can assist Member States to develop comprehensive economic and infrastructure development plans for their NBRC counties.

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

Economic Impact Initiative Grants
This program provides funding to assist in the development of essential community facilities in rural communities with extreme unemployment and severe economic depression.

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

Indigenous Communities Program
Through the Indigenous Communities program, EDA is allocating $100 million in American Rescue Plan funding specifically for Indigenous communities, which were disproportionately impacted by the...

Legislative and Federal Headlines

The Turtle Mountain Band of Chippewa in North Dakota Receive $500K From IIJA
Senator Kevin Cramer of North Dakota | Dec. 28, 2022 | Brownfield Financing | Economic Development | Federal | Redevelopment | Tribal Finance

Federal Budget Contains Historic Funding for Indian Health Service
Independent Record | Dec. 28, 2022 | Economic Development | Federal | Healthcare | Tribal Finance

$312M from Federal Spending Bill Allocated to 18 Projects in South Alabama
WKRG | Dec. 27, 2022 | Access to Capital | Economic Development | Healthcare | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Transportation

$1.7T Federal Spending Bill Includes Over $10M for Aiken County, SC Projects
Yahoo! Finance | Dec. 23, 2022 | Access to Capital | Healthcare | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Rural Development | Water Finance

Michigan Agriculture Advancement Awarded USDA Grant
Morning AgClips | Dec. 20, 2022 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA)

USDA Invests $9.5M to Develop New Bioproducts from Agricultural Commodities
USDA | Dec. 20, 2022 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)

U.S. Farm Agency to Spend $600M on Rural Clean Energy Projects
Yahoo! Finance | Dec. 15, 2022 | Agriculture Finance | Energy Finance | Legislative | Rural Development | U.S. Dept. of Agriculture (USDA)

Biden Signs Medical Marijuana Research Bill
Forbes Business Magazine | Dec. 14, 2022 | Cannabis Finance | Economic Development | Federal | Healthcare | Legislative | Legal & Regulatory

EPA Announces $14M in Brownfields Grants to Train Environmental Workers
EPA | Dec. 14, 2022 | Access to Capital | Brownfield Financing | Development Finance Toolbox | Federal | Legislative | U.S. Environmental Protection Agency (EPA) | Case Studies | EPA Case Studies

Biden-Harris Administration Announces $325M Through Partnerships for Climate-Smart Commodities
USDA | Dec. 12, 2022 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA)

U.S. Treasury Extends Tribal Government SSBCI TA Grant Program Application Deadline
U.S. Treasury | Dec. 6, 2022 | Access to Capital | Disaster Recovery & Relief | Federal | Legislative | State Small Business Credit Initiative (SSBCI) | Tribal Finance | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | COVID-19 | State Small Business Credit Initiative (SSBCI)

New Additions to the Online Resource Database

U.S. Treasury Issues Revised SSBCI Capital Program Policy Guidelines, 12-15-22
Access to Capital | Disaster Recovery & Relief | Economic Development | Federal | Legislative | State Small Business Credit Initiative (SSBCI)
The U.S. Department of the Treasury released the revised SSBCI Capital Program Policy Guidelines on December 15, 2022.

SSBCI FAQs as of 12-08-22
Access to Capital | Disaster Recovery & Relief | Economic Development | Legislative | State Small Business Credit Initiative (SSBCI)
The U.S. Department of the Treasury released an updated FAQ sheet for the State Small Business Credit Initiative program on December 8, 2022.

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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