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CDFA Legislative and Federal Affairs Update - November 5, 2019

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Legislative and Federal Affairs Update
November 5, 2019
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Legislative and Federal Affairs Update

Legislative Features

Senate Passes Transportation Spending Bill
A fiscal 2020 appropriations bill to fund the Transportation Department was one of four to pass the Senate as part of a minibus, an event that appropriators said they hope can kick-start conference talks ahead of a Nov. 21 deadline. Included in the passed Transportation-HUD bill was an amendment that would head off an automatic 12 percent cut to transit agencies.

231 Mayors Call on Congress to Extend the Solar Investment Tax Credit
A bipartisan group of 231 mayors from Tacoma, Wash to Ft. Lauderdale, Fla. sent a letter to Congress today urging them to pass the Renewable Energy Extension Act (HR 3961/S. 2289), a five-year extension of the solar Investment Tax Credit (ITC).

Bills Introduced to Extend Section 25C, Section 45L Credits
Two bipartisan, bicameral bills were introduced to extend two energy tax incentives that expired at the end of 2017. The Home Energy Savings Act would extend the IRC Section 25C tax credit for qualified energy efficiency improvements to Dec. 31, 2026. The New Home Energy Efficiency Act would extend and update the Section 45L tax credit for new energy-efficient homes through 2022.

Historic Tax Credit Enhancement Act Introduced in U.S. Senate
The Historic Tax Credit Enhancement Act was introduced in the U.S. Senate on a bipartisan basis. The bill increases the Federal Historic Tax Credit to 30% for properties with rehabilitation expenses of under $3.75 million and eliminates the HTC basis adjustment requirement.

Sen. Tim Scott Talks Opportunity Zones, Community Success
U.S. Sen. Tim Scott led a discussion in downtown Aiken, SC about opportunity zones, a redevelopment and investment program the senator is credited with shepherding and seeing to fruition.

Water Infrastructure Funding Transfer Act Becomes Law, Expanding State Revolving Funds
The Water Infrastructure Funding Transfer Act adds flexibility to the State Revolving Funds (SRF) program to help finance projects that reduce lead in drinking water. The Water Infrastructure Funding Transfer Act allows transfers from the Clean Water State Revolving Fund to the Drinking Water State Revolving Fund.

Senate Funds Key Clean Water Priorities
The Senate Appropriations Committee recently passed the FY20 Interior & Environment Appropriations bill, which funds the U.S. EPA and key clean water programs. The full House previously passed its FY20 Interior & Environment Appropriations bill earlier this summer and now awaits passage of the Senate version before moving to conference the two versions of the bill.

Bill Would Establish P3 Pilot Program for GSA Projects
U.S. Representatives Greg Pence and Mark Meadows introduced legislation to provide the General Services Administration with the flexibility to pilot the use of public-private partnerships. H.R. 4485, the Public-Private Partnerships for Prosperity (P4) Act of 2019, directs GSA to identify 5-10 eligible projects to acquire public buildings using public-private partnerships.

Legislation Introduced to Promote the Creation of an Appalachian Energy Storage Hub
Representatives David B. McKinley, P.E., (W.Va.-1), Carol Miller (W.Va.-3) and Alex Mooney (W.Va.-2) introduced legislation that would direct the Appalachian Regional Commission (ARC) to provide funds to help in the creation of an Appalachian petrochemical hub.

Upcoming Events
CDFA National Development Finance Summit

CDFA-Bricker PACE Webinar Series: New Construction PACE
November 18, 2019 - 11:00 AM - 1:00 PM Eastern
In this webinar, the discussion will focus on the use of PACE financing as a tool in new construction projects. Learn from industry leaders and finance experts about how C-PACE can be a tool for new commercial development. PACE as a new form of capital provides unique alternatives to close financing gaps and to replace developer equity in projects under development.

CDFA // BNY Mellon Development Finance Webcast Series: Unlocking Capital for Native American Communities
Tuesday, November 19, 2019 - 1:00 PM Eastern
During this installment of the CDFA // BNY Mellon Webcast Series, we will discuss financing tools for Native American-owned businesses to assist in strengthening tribal nation's local economies.

Federal Features

CDFA Releases Annual Volume Cap Report
CDFA is pleased to announce the release of the Annual Volume Cap Report: An Analysis of 2018 Private Activity Bond & Volume Cap Trends. The report provides complete data on the use of volume cap and the issuance of cap-subject private activity bonds nationwide. CDFA collected the information for the report from surveys and interviews with the allocating authority in each state.

USDA Finalizes Location for Research Agencies in Kansas City, MO
Employees at the U.S. Department of Agriculture's Economic Research Service and National Institute of Food and Agriculture now have a permanent office location to work out of in Kansas City, Missouri. USDA announced that it had signed a lease for permanent office space in the Quality Hill area, which will house both research agencies.

USDA Releases Proposed Hemp Regulations For Public Comment
The U.S. Department of Agriculture (USDA) has completed developing rules for hemp manufacturing and will soon be accepting state regulatory plans for the crop. The regulations cover the requirements for where hemp can be grown, THC testing standards, the disposal process for crops that don't meet federal standards and licensing protocol.

EDA Publishes NOFA for FY 2020 Public Works, Economic Adjustment Assistance Programs
The U.S. Economic Development Administration (EDA) published the FY 2020 Public Works and Economic Adjustment Assistance Programs Notice of Funding Opportunity. EDA solicits applications for construction, non-construction, planning, technical assistance, and revolving loan fund projects under EDA's Public Works program and Economic Adjustment Assistance program.

HUD Releases 2 New NOFAs for the Section 811 PRA and Supportive Housing Programs
HUD has released two new NOFAs for Section 811 programs. The Section 811 Project Rental Assistance (PRA) Program seeks to identify, stimulate, and support sustainable state approaches that will transform the provision of housing for persons with disabilities while providing access to appropriate supports and services.

DOT Launches Rural Opportunities to Use Transportation for Economic Success Initiative
Rural Opportunities to Use Transportation for Economic Success (ROUTES) is an initiative to address disparities in rural transportation infrastructure. The ROUTES Council will be chaired by the Under Secretary for Transportation, which will oversee the ROUTES Infrastructure Management Team in three primary activities.

USDA Invests $152M to Improve Broadband Service in 14 States
USDA is investing $152 million in 19 projects to provide or improve rural broadband service in 14 states. USDA is making the investments through the Community Connect Grant Program, the Telecommunications Infrastructure Loan Program, and the Rural Broadband Access Loan and Loan Guarantee Program.

IRS Very Seriously Considering EPA's Opportunity Zone Comments
The IRS is giving special consideration to the EPA's request for clearer language in opportunity zone regulations to spur investment in brownfield sites. EPA requested the IRS to clarify in final rules that investments in the assessment, remediation, and redevelopment of brownfield properties are within the scope of the opportunity zone program.

USDA's NIFA Announces $1.89M Investment Through SBIR
The National Institute of Food and Agriculture (NIFA) Director J. Scott Angle announced today the Agency's $1.89 million investment in small business research grants. These grants are made through the Small Business Innovation Research (SBIR) program.

PR Receives $33M from EDA for Opportunity Zone Development
The EDA is investing $33 million in Puerto Rico to advance economic resiliency and business growth efforts in the wake of the devastating 2017 hurricane season. The grants, to be located in a designated Opportunity Zone, will be matched with $4.3 million in local funds and are expected to help create or retain 7,635 jobs and generate $188 million in private investment.

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 Appalachian Regional Commission (ARC)

Distressed Counties Grants
ARC targets special resources to the most economically distressed counties in the Region, using a measure of economic distress based on three economic indicators: three-year average unemployment...

Agency Seal Delta Regional Authority (DRA)

DRA Local Development Districts
As front-line project managers, the local development districts within the DRA footprint provide technical assistance, application support and review, and other services to DRA and those entities in...

Agency Seal Denali Commission

Village Infrastructure Protection (VIP) Program
Village Infrastructure Protection (VIP) Program to assist rural Alaskan communities that are threatened by erosion, flooding and permafrost degradation. The goal of the VIP Program is to mitigate the...

Agency Seal U.S. Dept. of Justice (DOJ)

Bureau of Justice Statistics Funding Programs
The mission of the DOJ's Bureau of Justice Statistics (BJS) is to collect, analyze, publish, and disseminate information on crime, criminal offenders, victims of crime, and the operation of justice...

New Additions to the Online Resource Database

Historic Tax Credit Enhancement Act - October 2019 Senate Bill
Historic Preservation | Legislative | Tax Credits
This is the text of the Historic Tax Credit Improvement Act. The Act was introduced in the U.S. Senate in October 2019 by Sens. Bill Cassidy (R-LA), Ben Cardin (D-MD), Susan Collins (R-ME), and Maria Cantwell (D-WA).

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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