Legislative and Federal Affairs Update - April 3, 2018
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| Spotlight |
CDFA Releases 2018 Policy Agenda
The Council of Development Finance Agencies is pleased to announce the release of the 2018 CDFA Policy Agenda. The policy areas highlighted seek to address market-based challenges to capital formation, access, and private leverage. To view the agenda, click here.
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| Legislative Features |
Senate Passes "Indian Community Economic Enhancement Act"
The Indian Community Economic Enhancement Act of 2017 (S. 1116) would amend existing law to improve access to capital, promote opportunities for Indian businesses and encourage investment in tribal communities.
U.S. Sen. Murphy Offers Tax Incentive Bill for Brownfield Redevelopment
Sen. Chris Murphy has introduced The Creating Livable Environments and New Usable Property (CLEAN UP) Act, which would enable developers to fully deduct the costs of environmental cleanups on brownfield sites in the year those costs are incurred.
Why Congress Must Reinstate Advance Refundings
Bond Dealers of America is urging the House Ways and Means Committee to take up and pass H.R. 5003, a bill introduced on Feb. 13 by Reps. Randy Hultgren, R-Ill., and C.A. Dutch Ruppersberger, D-Md., which would reinstate advance refundings according to prior tax law.
Congress' Last-Minute Budget Bill May Actually Prove Good for Cities
While the dollars appropriated to housing, community development, and other urban priorities still fall far short of what's needed, in many cases the bill increased funding to key programs. The bill also included a key change to the low-income housing tax credit program.
Pallone's Bipartisan Brownfields Bill Passes in Omnibus
As part of the omnibus spending package, the House of Representatives passed legislation to reauthorize the Brownfields program authored by Congressman Frank Pallone, Jr. (NJ-06). Pallone led efforts to negotiate and pass the reauthorization legislation out of the Energy and Commerce Committee.
$1.3T Spending Bill Good for Economic Development
The President has signed a $1.3 trillion spending bill that will increase funds allocated to CDGB, TIGER, Clean Water and Drinking Water State Revolving Loan Funds, and many more.
New CRS Report Details PAB Expansions
A newly updated report by the Congressional Research Service details how Congress has expanded private activity bonds to 27 different uses from their original purpose as industrial revenue bonds.
Senate Passes S. 2155, Approves Treatment of Munis as HQLA
The Senate has passed the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), a bill that would, among other things, treat investment grade municipal securities that are readily-marketable as level 2B liquid assets
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| Upcoming Events |
CDFA Urban Finance Forum
June 6-7, 2018 - Cleveland, OH
Join CDFA in Cleveland, OH this June for the Urban Finance Forum. Limited to urban communities, the CDFA Urban Finance Forum will feature a panel of development finance experts from various federal agencies, as well as representatives from America's largest urban areas to discuss the future of urban development finance.
CDFA Federal Financing Webinar Series: U.S. Department of Transportation (DOT)
April 12, 2018 - 2:00 PM Eastern
In this webinar, CDFA will convene transportation and infrastructure experts to discuss the financing tools available through the DOT. The main focus of the webinar will be on the Transportation Infrastructure Finance and Innovation Act (TIFIA), Transportation Investment Generating Economic Recovery (TIGER) Grants, and State Infrastructure Banks (SIBs).
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| Federal Features |
St. Louis Fed Creates New OZ Tool
The Opportunity Zone Investment Explorer is designed to aid states in the process of designating Opportunity Zones. It utilizes a dataset from the Urban Institute in which an investment score and gentrification risk is calculated for each census tract.
Federal Reserve May Revise CRA Rules
The Federal Reserve may make changes to the Community Reinvestment Act (CRA), due in part to the rise of online lenders, known as "fintech" firms, as well as industry consolidation.
USDA Allocating $70M to Protect Ag. from Pests, Disease
U.S. Department of Agriculture's (USDA) Under Secretary for Marketing and Regulatory Programs Greg Ibach today announced that USDA is allocating almost $70 million from Section 10007 of the 2014 Farm Bill to support 494 projects in 49 states, Guam and Puerto Rico.
Credit Enhancement For Charter School Facilities Program
The U.S. Department of Education has launched a program that will award grants to eligible entities that demonstrate innovative methods of helping charter schools address the cost of acquiring, constructing, and renovating facilities by enhancing the availability of loans and bond financing.
GA Governor Submits Opportunity Zones Nominations
The Georgia Department of Community Affairs (DCA) announced that Governor Nathan Deal has nominated 260 census tracts across the state to participate in the Federal Opportunity Zones program.
AL Governor Submits Opportunity Zone Nominations
Governor Kay Ivey submitted her census tract nominations for Opportunity Zones to the U.S. Department of the Treasury.
USDA Seeks Applicants for Renewable Energy/Energy Efficiency Projects
Assistant to the Secretary for Rural Development Anne Hazlett has invited applications for loan guarantees and grants for Renewable Energy Systems and Energy Efficiency Improvement Projects, which is a part of USDA's Rural Energy for America Program (REAP).
Combining TEBs with P3s under Current Law
Micheal Cullers of Squire Patton Boggs provides insight into how a typical stadium bond deal structure can provide a pathway for P3 projects to access tax-exempt debt.
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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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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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