The Council of Development Finance Agencies (CDFA) is pleased to announce that Senators Brown (D-OH) and Ernst (R-IA) have introduced the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) in the U.S. Senate as S. 2723. MAMBA would modernize the Internal Revenue Code (IRC) as it relates to small issue bonds, specifically the private activity bond rules for manufacturing bonds and first-time farmers by making six key changes to the tax code.

The U.S. Senate cleared a stopgap funding bill, sending it to President Joe Biden's desk just in time to avert a government shutdown. The legislation effectively punts the deadline for Congress' various spending fights to Nov. 17. It passed the upper chamber by a wide margin, 88-9. The final version of the bill — which overwhelmingly passed the House with bipartisan support — only includes disaster relief alongside regular government funding.

The U.S. Department of Energy (DOE) announced that 11 states, 2 territories, and 20 Tribal nations will receive a combined total of $167.7 million as the eighth cohort of Grid Resilience State and Tribal Formula Grants. Supported by the Bipartisan Infrastructure Law and administered by DOE's Grid Deployment Office, these grants will help modernize the electric grid to reduce the impacts of climate-driven extreme weather and natural disasters while ensuring the reliability of the power sector.

The U.S. Department of the Treasury announced the approval of $156.7 million for high-speed internet projects in Oregon under the American Rescue Plan's Capital Projects Fund (CPF), which the state estimates will connect approximately 17,195 homes and businesses to affordable, high-speed internet. A key priority of the CPF program is making funding available for broadband infrastructure to expand economic opportunities and provide internet connectivity in communities with unmet needs.

The Federal Railroad Administration (FRA) of the U.S. Department of Transportation (USDOT) announced that it has invested more than $1.4 billion from the Bipartisan Infrastructure Law into 70 rail improvement projects in 35 states and Washington, D.C. This is the largest amount ever awarded for rail safety and rail supply chain upgrades through the Consolidated Rail Infrastructure and Safety Improvements (CRISI) program.

The U.S. Environmental Protection Agency (EPA) launched $4.6 billion in competitive grants to fund state, local, and Tribal programs and policies that cut climate pollution, advance environmental justice, and deploy clean energy solutions across the country. The Climate Pollution Reduction Grants competitions will enable community-driven solutions to the climate crisis, helping to accelerate America's clean energy transition.

The U.S. Department of Energy (DOE) released program guidance and opened applications for $400 million in formula funding to states and territories for adopting and implementing building energy codes that reduce utility bills, increase efficiency, and lower greenhouse gas emissions.  Funded by the Inflation Reduction Act, states can now access this funding for the adoption and implementation of the latest building energy codes and zero energy codes for cleaner, more efficient buildings.

California was awarded over $102 million in grants from the U.S. Department of Agriculture's (USDA) Forest Service to combat extreme heat and climate change, plant and maintain trees, and create urban green spaces. The funding comes from the landmark Inflation Reduction Act (IRA) and is part of the largest USDA IRA investment to date in urban and community forests.

The U.S. Department of Transportation opened applications for the Electric Vehicle Charger Reliability and Accessibility Accelerator which will provide up to $100 million to repair and replace existing but non-operational, electric vehicle (EV) charging infrastructure. These targeted investments will complement hundreds of billions in private sector investment, support good-paying jobs installing, maintaining, and repairing EV infrastructure, and make charging networks more reliable.

The U.S. Department of the Treasury announced the approval of $167.7 million for high-speed internet projects in Oklahoma under the American Rescue Plan's Capital Projects Fund (CPF), which the state estimates will connect approximately 20,000 homes and businesses to affordable, high-speed internet. A key priority of the CPF program is expanding economic opportunities and providing internet connectivity in communities with unmet needs.

The U.S. Department of the Treasury announced the approval of $158 million in federal funds for broadband infrastructure and multi-purpose community facility projects in Puerto Rico under the American Rescue Plan's Capital Projects Fund. The announcement includes two funding plans: $85.7 million for broadband infrastructure, and $64.7 million for multi-purpose community technology centers which will bring connectivity to Puerto Rico communities for years to come.

The 2023 CDFA National Development Finance Summit is one month away and this is your last chance to lock in early bird pricing. Register by October 13 to save! We're excited to see you in Philadelphia!

U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced that Treasury has agreed to issue three guarantees totaling $300 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of three Eligible CDFIs under the fiscal year (FY) 2023 round of the program. Nearly $2.5 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program.

The U.S. Department of Agriculture (USDA) is investing $4.8 million in loans and $268,500 in grants to 13 rural Iowa projects to help communities and businesses improve community infrastructure and promote economic development. These investments will help rural communities establish and operate vital services, such as health care facilities, volunteer fire departments, and school transport.

The U.S. Economic Development Administration (EDA) is awarding a $2.6 million grant to the Utilities Board of the City of Tuskegee, Alabama, for construction of a new electrical distribution substation. This grant will provide the necessary power to support the Tuskegee Commerce Park, currently in development, and an automotive manufacturing facility. This EDA investment will be matched with $1.1 million in local funds.

The U.S. Environmental Protection Agency (EPA) announced $7.5 billion in available Water Infrastructure Finance and Innovation Act (WIFIA) funding. This innovative low-interest loan program helps communities invest in drinking water, wastewater, and stormwater infrastructure while saving millions of dollars and creating good-paying local jobs. To date, EPA's WIFIA program has announced $19 billion to help finance 109 projects nationwide.

The U.S. Economic Development Administration (EDA) is awarding a $4.4 million grant to the city of Madras, OR to support infrastructure improvements designed to help revitalize the community's downtown area for business expansion and growth. This grant will support stormwater infrastructure improvements.

The U.S. Department of Agriculture (USDA) is providing more than $49 million for water and wastewater infrastructure repairs and upgrades in four towns and one county in rural Kansas. The Water and Waste Disposal Loan & Grant Program has existed since the Water Facilities Act of 1937, but additional funds from the Bipartisan Infrastructure Law and the Inflation Reduction Act have enabled USDA Rural Development to give out more grant money.

Washington State received a $23.4 million Grid Resilience State and Tribal Formula Grant from the U.S. Department of Energy (DOE) under the Bipartisan Infrastructure Law to modernize the electric grid and reduce impacts due to extreme weather and natural disasters. Grid Resilience State and Tribal Formula Grants aim to ensure the reliability of power sector infrastructure so that communities have access to affordable, reliable, clean electricity.

The U.S. Environmental Protection Agency (EPA) announced $19 million in new grant funding that will work to improve the climate resilience of the nation's water infrastructure. EPA's Drinking Water System Infrastructure Resilience and Sustainability grant program will support drinking water systems in underserved, small, and disadvantaged communities that are working to prepare for and reduce vulnerability to impacts from climate change ranging from extreme flooding to extreme drought.

The U.S. Department of Commerce's National Telecommunications and Information Administration (NTIA) announced nearly $50 million to four organizations to expand middle-mile high-speed Internet infrastructure in New Hampshire, Tennessee, Virginia, and Wyoming. Under the Internet for All Initiative, the Enabling Middle Mile Broadband Infrastructure Program invests in projects that build regional networks that connect to national Internet networks.