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CDFA Bond Finance Update - February 21, 2017

Bond Finance Update
February 21, 2017
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CDFA Bond Finance Update

Features

Caucus Asks to Work With Trump on Infrastructure, Tax Reform Legislation
Bipartisan caucus of lawmakers wants to meet with President Trump on developing consensus tax reform, infrastructure legislation.

Fiberight Asks FAME for $45M Conduit Bond for Waste-To-Energy Plant
Maryland-based Fiberight LLC is asking the Finance Authority of Maine to help connect it to $45 million in tax exempt bond money to build and operate a plant in Hampden that will change trash into biogas.

Does a Management Contract Equal Private Business Use?
The IRS revised guidelines for management contracts with private contractors in January to address questions municipalities have been asking regarding the 10% "private business use" since the original guidelines were issued in August 2016. The new guidelines are more detailed.

Timing of Annual Financial Disclosures
The MSRB's report finds that the majority of issuers had a commitment date of 180 days or 270 days from the end of the issuer's fiscal year. Over the last several years, the number of commitments of 180 days has generally decreased while there has been an upward trend in commitments of 270 days.

MI Thrive Seeks Senate Approval
The Michigan Thrive Initiative would give developers the tools they need to bridge financial gaps holding back these large and complicated brownfield projects — at no risk to the state or taxpayers.

HFS Committee to Review Muni Regulators, Others
The House Financial Services Committee intends to review municipal bond regulators and other aspects of the capital markets with an eye toward rolling back certain programs, according to an oversight plan from the committee.

Bill Would Bar Use of TEBs for Stadiums
Rep. Steve Russell has introduced the "No Tax Subsidies for Stadiuums Act," (HR 811), which would treat bonds used to finance professional sports stadiums as taxable private activity bonds if they met just one part of the existing two-part test for PABs.

Market Reports

KPM Weekly Rate Update
KPM Financial | Feb. 21 | Bond Finance | Bond Finance\Market Reports

Upcoming Events
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News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

TIF Jurisdiction, Future Projects Among County Officials' Annexation Concerns
Officials say existing Monroe County, Ind., tax increment financing districts will remain under the jurisdiction of the Monroe County Redevelopment Commission even if the city annexes areas within them.

Support for Munis Seen on Capitol Hill; Tax Reform May Be Next Year
Two corporate executives and lobbyists told treasurers meeting here on Monday that they are hearing positive things about municipal bonds from legislative staffers, but a senior tax staffer from the Senate Finance Committee said tax reform may slip into 2018.

Bills Would Allow States, Localities to Issue up to $5B of PABs for Public Buildings
House and Senate members have reintroduced companion bills that would allow state and local governments to issue up to $5 billion of private activity bonds to finance the repair or construction of schools and other public buildings under public-private partnership arrangements.

Outlook Dims for Trump Pledge on Infrastructure Funding
President Trump's pledge of getting Congress to pass a major infrastructure program in his first 100 days is slipping away as lawmakers focus on health care as their top priority, leaving experts to wonder if the initiative will move forward at all this year.

CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.

Bond Finance Headlines

LA Offers Help with Bonding
Houma Today | Feb. 17 | Bond Finance | Infrastructure Finance | State Finance Program

NGA CEO Says Muni Tax Break is Vital
The Bond Buyer | Feb. 17 | Bond Finance | Legislative

$6M Pump Station in TX to be Funded By Water District Bond in
The Statesman | Feb. 15 | Water Finance | Bond Finance | Infrastructure Finance

Lakeway Seeks $23M Bond to Fund Police Station
KXAN | Feb. 15 | Bond Finance | Redevelopment

San Marcos CISD Seeks $107M Bond
KXAN | Feb. 15 | Bond Finance | Infrastructure Finance | Redevelopment

The Timeline of Tax Reform And the Danger For Munis
The Bond Buyer | Feb. 14 | Bond Finance | Federal | Legislative

Munis Could be Caught Up in Revised CHOICE Act's Mandated SEC Reviews
The Bond Buyer | Feb. 14 | Bond Finance | Federal | Legislative

Scranton, PA Group Looks to Scuttle Local Tax Tripling
The Bond Buyer | Feb. 14 | Bond Finance

Membership Substitution Transactions – Why Are They So Misunderstood?
The Bond Buyer | Feb. 14 | Bond Finance

IRS Halts Rules, But Lawyers Hope for Some Muni Infrastructure Guidance
The Bond Buyer | Feb. 14 | Bond Finance | Federal | Internal Revenue Service (IRS)

Issuers Giving Themselves More Time to Disclose Financials
The Bond Buyer | Feb. 14 | Bond Finance | Federal

San Antonio City Council Places $850M Bond on May Ballot
News Radio 1200 WOAI | Feb. 10 | Bond Finance | Water Finance | Community Development | Infrastructure Finance | Green Finance

Second Round of KY Bond Fund Now Open for Proposals
SurfKY News | Feb. 9 | Bond Finance

MN is Facing a Housing Bond Shortage
StarTribune | Feb. 9 | Bond Finance | Community Development | Tax Credits

Senate Panel Told P3s Won't Work for Rural Areas, Tax-Exempts Are Key
The Bond Buyer | Feb. 9 | Bond Finance | Public-Private Partnership (P3) Financing | Rural Development

MSRB EMMA Update Allows Users to Customize Their Notifications
The Bond Buyer | Feb. 9 | Bond Finance | Municipal Securities Rulemaking Board (MSRB)

The Port of Astoria Explores Bond for New Life Flight Hangar
The Daily Astorian | Feb. 9 | Bond Finance

Amarillo Council to Vote on 5 Year Community Investment Program
News Channel 10 Media | Feb. 8 | Bond Finance | Community Development | Infrastructure Finance

Opinion: State, Local Bonds Critical to the Nation's Public Infrastructure
The Bond Buyer | Feb. 8 | Bond Finance | Federal | Legislative | Infrastructure Finance

CA State University to Sell $1.14B Revenue Bonds
MuniNet Guide | Feb. 7 | Bond Finance



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

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.


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


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