Lots of Noise in the Muni Market as Confusion, Concern Surround PABs, Refundings
George Friedlander of Court Street Group outlines the state of the tax reform debate, as well the projected impact of tax legislation on municipal finance.
Denver Transportation Gets a $430M Funding Boost
A healthy majority of Denver voters elected to approve $937 million in bond sales to support infrastructure projects across the city, with nearly half of the investment dedicated to transportation and mobility.
Tax Bill Could Crush Private Bond Work
The House GOP tax reform bill would repeal the tax-exempt status for qualified PABs, which could lead up to a 50 percent reduction in such projects and could lead to the loss of tens of thousands of low-income housing units. Tim Fisher of CDFA is quoted in the piece.
American Cities Stuck With Part of Tab for Republicans' Tax Cuts
Congress's plan to cut taxes by more than $1 trillion sends part of the bill to America's states and cities. The proposed tax changes would likely result in higher interest costs for municipal borrowers and strain their budgets, according to S&P Global Ratings.
House Votes to End PABs, Advance Refundings, Part of SALT Deduction
House Republicans passed a far-reaching overhaul of the nation's tax system that would terminate private activity bonds and advance refundings after Dec. 31 as well as most of the deduction for state and local taxes.
Springfield, MA, Approves $7.5M in Bonds to Fund Food Service Center
The Springfield, Massachusetts, City Council approved a bond order of $7.5 million for the second phase of an estimated $21 million, state-of-the-art food service building on Cadwell Drive in East Springfield.
$62.7M WHEFA Bond Financing Supports Wausau, WI Hospital
Bond financing facilitated by WHEFA will be used to help Aspirus Wausau Hospital finance the construction, renovation, equipping and expansion of its intensive care units, palliative care nursing unit, emergency department, cancer center and cafeteria.
Industry Groups Come Out Swinging to Save PABs
Supporters of tax-exempt private activity bonds have been working overtime since the Tax Cuts and Jobs Act was introduced in an effort to save PABs. CDFA's Tim Fisher is quoted in the article.
Tax Bill Eyes End to Project Finance, Stadium Bonds Deductions
Under the bill, income from private activity bonds, a tool that state and local governments offer to help private entities raise money for projects that are deemed to have public benefit, would no longer be tax exempt. The provision would increase revenue by $38.9 billion over 10 years, according to the JCT.
CDFA Disaster Bond Proposal Introduced in U.S. House
The Give A HAND Act, an extensive disaster relief bill, would codify the CDFA proposal to create a new category of tax-exempt private-activity bonds to finance the reconstruction and rehabilitation of property following natural disasters.
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