CDFA Legislative and Federal Affairs Update - August 2, 2022
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Legislative Features |
Treasury Approves Nine Additional State Plans Through SSBCI
The U.S. Department of Treasury announced an additional group of nine state plans approved under the State Small Business Credit Initiative. Treasury has approved more than $1.5 billion in funding to promote small business growth through SSBCI. These recipients under the SSBCI program plan to target key industries and small businesses in need of access to capital.
Senate Democrats Announce the Inflation Reduction Act of 2022
On July 28, 2022, Senate Democrats announced the Inflation Reduction Act of 2022. The bill proposes to reduce budget deficits to fight inflation by establishing a 15% minimum corporate tax and closing certain tax loopholes, while also investing nearly $370 billion in domestic energy production, manufacturing, carbon emissions reduction, and other initiatives to fight climate change. Upon enactment of the bill, CDFA will provide an in-depth analysis as to how the bill's provisions will impact its members and the communities they serve.
New Private, Public Sector Efforts to Maximize Investments in Underserved Communities
Vice President Kamala Harris announced a new coordinated effort by six federal agencies – the Departments of the Treasury, Commerce, Transportation, Housing and Urban Development, and Agriculture and the Small Business Administration— to maximize federal dollars flowing into underserved communities, including communities of color, rural, and Tribal communities.
Bans on Bond Proceeds Used for Religious Purposes May Now Be Unconstitutional
The court ruled last month that if a state chooses to subsidize private education, it cannot disqualify some private schools solely because of religious affiliation. The ruling could change the way some issuers go about certain financings, public finance lawyers said.
Lawmakers Pushed to Streamline USDA Farm Loans
The House Ag Committee heard calls to raise the limits on USDA farm loans and to streamline rules to accommodate a diversity of farmers. Five panelists and multiple witnesses spoke at the farm bill hearing highlighting the need for higher credit limits for loans serving young, beginning and underserved farmers to keep up with high land prices and inflation.
Senate Democrats Scramble for Alternatives to Climate Legislation
Senate Democrats are searching for creative ways to get climate legislation over the finish line this Congress. One of those new ideas is year-end tax extenders, and the demise of their climate bill has Democrats hoping they can revive some of their clean energy agenda in the lame-duck session.
House Committee Approves Disaster Assistance Legislation
The House Committee on Transportation and Infrastructure has approved legislation that includes a series of significant reforms designed to make federal disaster assistance more accessible to disaster survivors.
Senate Republican to Propose ‘Inflation Relief' in New Bill Targeting Tax Credits
A top Senate Republican plans to introduce legislation that is designed to provide targeted relief to lower- and middle-income Americans who are struggling financially due to rising consumer prices by indexing certain tax benefits to inflation.
Paying to Put a Mountain Back
Funding abandoned mine land reclamation is lifesaving for local communities. The passage of the Infrastructure Investment and Jobs Act provided a boost to coal reclamation projects and the RECLAIM Act, has garnered bipartisan support across Appalachia and could potentially provide further funding to coal reclamation projects.
Senate Can Boost Agriculture's Battle Against Climate Change
Budget reconciliation legislation that includes investments for climate programs, among other outlays, is now pending in the Senate and presents lawmakers with a tremendous opportunity to mitigate the impacts of climate change, while also improving the quality of life in rural counties, as well as helping farm families and their communities.
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Upcoming Events |
CDFA-Bricker Webinar Series: Solar Projects
Thursday, August 11, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will provide an overview of tax abatements typically used by solar developers, with a focus on examples from the state of Ohio, and panelists will also discuss how abatements and payment-in-lieu-taxes agreements interplay with state permitting processes.
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Federal Features |
Learn How to Help Your Community Beat the Heat with the Department of Energy
Join CDFA for the next installment of the Federal Financing Webinar Series: Funding Community Energy Needs with the U.S. Department of Energy on August 23. Learn about available funding for renewable energy and energy efficiency research, development, and implementation along with funding networks that provide weatherization services to low-income families.
Biden-Harris Admin. Announces $401M for High-Speed Internet Access in Rural Areas
U.S. Department of Agriculture is investing $401 million to provide access to high-speed internet for 31,000 rural residents and businesses in 11 states, part of the Biden-Harris Administration's commitment to investing in rural infrastructure and affordable high-speed internet for all. This announcement includes a group of investments from the ReConnect Program, and an award funded through USDA's Telecommunications Infrastructure Loan and Loan Guarantee program.
The Sunny Awards for Equitable Community Solar
The Sunny Awards for Equitable Community Solar (The Sunny Awards) is a $100,000 prize competition that will recognize community solar projects and programs that employ or develop best practices to increase equitable access to the meaningful benefits of community solar for subscribers and their communities.
Lynchburg, VA EDA Selected to Receive $500K From EPA for Brownfield Redevelopment
Lynchburg's Economic Development Authority again has been selected to receive $500,000 in assessment grants from the Environmental Protection Agency to continue to assist businesses and property owners to identify, assess and begin redevelopment of brownfields.
Dept. of Commerce Invests $2.1M to Support Manufacturing Expansion in Okmulgee, OK
U.S. EDA announced a $2.1 million grant to the Okmulgee Area Development Corporation, Okmulgee, Oklahoma, for road, utility and drainage infrastructure needed to complete the Okmulgee Business Complex. This project will help redevelop a brownfield site to attract manufacturing businesses and create jobs for the region.
Feds Boost Funding for Public Transit Accessibility
The Federal Transit Administration has announced that it will provide $1.75B in grants to transit agencies to improve accessibility for riders. The money, which comes from the $1.2T bipartisan infrastructure law, will make it easier for people to get on board the nation's oldest public rail systems. Transit agencies can use the funding to retrofit subway stations so people who need an elevator or ramp, including those who use wheelchairs.
USDA Awards over $70M in Grants, Increases Access to Local, Healthy Foods for Kids
The U.S. Department of Agriculture (USDA) announced it is awarding more than $10 million in Farm to School Grants to 123 projects across the country. Additionally, for the first time, the department is empowering states with $60 million in non-competitive grants to develop stronger and sustainable Farm to School programs over the next four years.
Executive Actions on Climate to Address Extreme Heat and Boost Offshore Wind
President Biden announced his latest set of executive actions to turn the climate crisis into an opportunity, by creating good-paying jobs in clean energy and lowering costs for families. By creating good-paying jobs in clean energy and lowering costs for families. His actions will protect communities from climate impacts and expand offshore wind opportunities and jobs in the United States.
Legislation Advances for Competitive Grant Program to Expand Truck Parking
The American Trucking Associations are praising U.S. House leaders for advancing the Truck Parking Safety Improvement Act, which would authorize the creation of a competitive grant program for states to spend $755M over a 4-year period on new truck parking projects including capacity expansion and enhancements.
Pennsylvania to Provide $268M in Federal Funding to Help Small Businesses
Through the State Small Business Credit Initiative (SSBCI), Pennsylvania has been awarded nearly $268M in American Rescue Plan funding. The funding will be used to spur small business growth and create job opportunities across the commonwealth.
Vermont to Use $58M in Pandemic Funding to Aid Entrepreneurs, Start-Ups
Millions of dollars will soon be available for Vermont entrepreneurs as the state prepares to spend nearly $58 million in federal pandemic funding aimed at Vermont entrepreneurs and small business startups.
Here's How Pennsylvania Plans to Spend Its Billions in Federal Stimulus Money
Pennsylvania lawmakers have agreed on a plan to use $2.2 billion in remaining federal stimulus money from the pandemic on housing, conservation, and child care programs. The agreement came as the state finalized a $45.2 billion budget a week after the deadline. Spotlight PA identified 20 programs that will be funded using the stimulus dollars.
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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
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Legislative and Federal Headlines |
How Denver, CO is Working to Make Its Cannabis Economy More Equitable
Next City | Jul. 12 | Access to Capital | Cannabis Finance | Economic Development | Innovation Finance | Legislative | Social Finance | Programs
Advancing Equity Through Workforce Partnerships NOFO
The U.S. Department of Energy | Jul. 28 | Access to Capital | Economic Development | Energy Finance | Federal | Green Finance | Social Finance | U.S. Dept. of Energy (DOE) | Job Postings & RFPs
Low-Income Community Solar Subscription Platform RFI
The U.S. Department of Energy | Jul. 28 | Access to Capital | Economic Development | Energy Finance | Federal | Green Finance | Innovation Finance | Job Postings & RFPs
USDA Announces Its LFPA Cooperative Agreement with California
USDA | Jul. 27 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)
$1.3M Infrastructure Investment for Lapeer County, Michigan Road Commission to Support Local Agriculture Industry
Michigan.gov | Jul. 26 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Commerce (DOC)
Can Integrity and Transparency Prevent Environmental Catastrophe?
New Security Beat | Jul. 25 | Disaster Recovery & Relief | Energy Finance | Green Finance | International | Legislative | Social Finance | Planning & Land Use | Legislative Front | Impact Investing
Connecticut Entrepreneurs, Start-Ups Targets for $120M in Federal Funding
Connecticut Business & Industry Association | Jul. 21 | Access to Capital | Community Development | Economic Development | Federal | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | State Small Business Credit Initiative (SSBCI)
Tompkins County, NY Legislature Accepts Food Systems Plan
Ithaca.com | Jul. 21 | Access to Capital | Food Systems Finance | Legislative
A Water Strategy for the West: Cities Pay Farmers to Install Efficient Irrigation Systems
Next City | Jul. 20 | Access to Capital | Agriculture Finance | Federal | Infrastructure Finance | State Finance Program | Water Finance
Kansas to Receive $69.6M in Relief Money for Small Businesses
Associated Press | Jul. 19 | Access to Capital | Disaster Recovery & Relief | Federal | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | COVID-19 | State Small Business Credit Initiative (SSBCI)
USDA Makes It Easier for Farmers to Grow Food, Ease Burdens for Families
Tahlequah Daily Press | Jul. 18 | Agriculture Finance | Federal | Food Systems Finance | Rural Development | U.S. Dept. of Agriculture (USDA)
Connecticut Plans to Support Entrepreneurs and Small Businesses Growth with COVID Recovery Funding
Office of Ned Lamont | Jul. 18 | Access to Capital | Disaster Recovery & Relief | Economic Development | Federal | Revolving Loan Funds (RLFs) | Social Finance | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | COVID-19
New Pennsylvania Budget Injects $125M Into Private School Tax Credit Program
Spotlight PA | Jul. 18 | Education | Legislative | State Finance Program | Tax Credits
Maine Connectivity Authority Announces $150M to Fund Broadband Expansion
The Piscataquis Observer | Jul. 15 | Access to Capital | Community Development | Disaster Recovery & Relief | Economic Development | Federal | Infrastructure Finance | U.S. Dept. of Treasury | Broadband
As Aging Farmers Retire, Lawmakers Explore How to Boost Beginning Producers
Georgia Recorder | Jul. 15 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)
Massachusetts House Approves Bill with Tax Relief, Health Care Investments
Boston Globe | Jul. 14 | Bond Finance | Community Development | Economic Development | Federal | Food Systems Finance | Healthcare | Legislative | Tax Credits
USDA Invests More Than $14M to Support Agricultural Workforce Training for Historically Underserved Communities to Bolster U.S. Meat and Poultry Sector Resilience
USDA | Jul. 13 | Access to Capital | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)
Real Estate Group Closes $42.6M Rural Development Loan in Flagler Beach, Florida
CISION PRWeb | Jul. 12 | Access to Capital | Federal | Housing Finance | Rural Development | Tax Credits | U.S. Dept. of Agriculture (USDA)
USDA Makes It Easier for American Farmers to Grow Food, Ease Burdens for American Families
USDA | Jul. 12 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)
Arizona Invests $1B to Expand Water Finance Authority
Water World | Jul. 11 | Infrastructure Finance | Legislative | Water Finance
Mediacom Public-Private Partnership in St. Louis County, MN
Telecompetitor | Jul. 11 | Access to Capital | Community Development | Economic Development | Federal | Infrastructure Finance | Broadband
$20M Plan Aims to Preserve Walnut Towers in Mankato, MN for Low-Income Residents
The Free Press | Jul. 10 | Community Development | Federal | Housing Finance | Redevelopment | Tax Credits
Pennsylvania Budget Allots $375M in Federal Funding to Housing Programs
Pittsburgh Post-Gazette | Jul. 9 | Community Development | Energy Finance | Federal | Housing Finance | Legislative | Rural Development | State Finance Program
Colorado Enacts Broad P3 Law, Illinois Eyes Similar Move
The Bond Buyer | Jul. 7 | Infrastructure Finance | Legislative | Public-Private Partnership (P3) Financing
CDBA Announces New $1B CDFI Tax Credit Bill to Boost Main Street Investment in Underserved Communities
Businesswire | Jul. 7 | Community Development | Legislative | Tax Credits
City of Waterville, ME Awarded $500K Brownfield Assessment Grant From U.S. EPA
Bangor Daily News | Jul. 7 | Brownfield Financing | Economic Development | Federal | Redevelopment | Rural Development | U.S. Environmental Protection Agency (EPA)
New Laws Make It Easier for Communities to Access State Financing for Water Infrastructure
Interlochen Public Radio | Jul. 6 | Infrastructure Finance | Legislative
EPA Awards $200K to San Luis Valley Local Foods Coalition for Food Waste Project
EPA | Jul. 6 | Access to Capital | Federal | Food Systems Finance | U.S. Environmental Protection Agency (EPA)
Feds Release List of Poor Rural Areas That Need Affordable-Housing Lending
HW | Jul. 6 | Community Development | Federal | Housing Finance | Rural Development
$104M Awarded to 16 Developments Across New York to Provide 864 Affordable Homes
Governor.NY | Jul. 6 | Community Development | Federal | Housing Finance | Public-Private Partnership (P3) Financing | State Finance Program | Tax Credits
Governor's Office Rejects Fast Tax Relief for Washingtonians, Brings up State Income Tax
The Center Square | Jul. 6 | Legislative | State Finance Program | Tax Credits
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New Additions to the Online Resource Database |
Low-Income Community Solar Subscription Platform RFI
Access to Capital | Economic Development | Energy Finance | Federal | Green Finance | Innovation Finance
This request for information (RFI) is intended to inform the U.S. Department of Energy (DOE) Solar Energy Technologies Office (SETO), in partnership with the U.S. Department of Health and
Human Services (HHS), on the development of a new platform to identify and make community solar with verified savings more accessible to Low-Income Home Energy Assistance Program
(LIHEAP) recipients.
Advancing Equity through Workforce Partnerships
Access to Capital | Economic Development | Energy Finance | Federal | Green Finance | Innovation Finance | Social Finance
This FOA supports the administration goals laid out above by supporting the development of workforce programs and partnerships that will facilitate the continued deployment of solar energy technologies, while supporting an inclusive workforce with opportunities for career advancement, including through union membership.
Treasury SSBCI FAQs Updated 07-25-2022
Access to Capital | Economic Development | Federal | State Finance Program | State Small Business Credit Initiative (SSBCI)
This document outlines the U.S. Department of the Treasury's State Small Business Credit Initiative (SSBCI) Frequently Asked Questions which were updated on July 25, 2022.
Treasury Approves Nine Additional State Plans Through the SSBCI
Access to Capital | Economic Development | Federal | Innovation Finance | State Finance Program | State Small Business Credit Initiative (SSBCI)
The U.S. Department of Treasury announced an additional group of nine state plans approved under the State Small Business Credit Initiative (SSBCI). Treasury has approved more than $1.5 billion in funding to promote small business growth through SSBCI. These recipients under the SSBCI program plan to target key industries and small businesses in need of access to capital.
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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
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Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net
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