Created as part of the Tax Cuts and Jobs Act, Opportunity Zones are a federal economic development tool aiming to improve the outcomes of distressed communities around the country. CDFA is leading the effort on understanding this new tool, and has created an Opportunity Zone Resource Center to help state decision makers as they prepare to designate their respective Opportunity Zones.

The White House proposal seeks to provide $200 billion in federal funds to spur $1.5 trillion in infrastructure investments with state, local and private partners over the next 10 years. CDFA's Tim Fisher is quoted in the piece.

Rep. Randy Hultgren (IL-14) welcomed the inclusion of an expansion of PABs in the President's infrastructure proposal. Rep. Hultgren has sponsored CDFA legislation, the Modernizing American Manufacturing Bonds Act (MAMBA) of 2017, H.R. 1115, to expand the use of the key financing tools for manufacturers.

This article from the National Sustainable Agriculture Coalition lays out what the new federal budget deal means for American agriculture.

Tax credits for nuclear power, carbon sequestration and small natural gas and renewable energy technologies were included in a Congressional budget deal that passed in the early hours of Friday morning and was later signed by President Trump.

A bill introduced by U.S. Rep. John Katko, New York, would provide $1 billion over five years for water infrastructure projects and streamline the application process to help states seeking funding for system upgrades. 

The CDFI Fund has awarded 73 Community Development Entities $3.5 billion in New Markets Tax Credits. The tax credit allocation awards, made through the calendar year 2017 round of the NMTC Program, will help stimulate investment and economic growth in low-income urban and rural neighborhoods.

This report contains information on the calendar year 2017 New Markets Tax Credit allocatees. $3.5 billion in New Markets Tax Credits have been awarded nationally this year.

This report of the Investing in Opportunity Act, produced by Butler Snow LLP, dives further in the nuances of Opportunity Funds as well as the functionality of the deferments of capital gains.

The IRS and the CDFI Fund have released guidance on the procedure for designating population census tracts as Qualified Opportunity Zones (QOZ). States must act quickly if they want to designate any QOZs, as they have until March 21, 2018 to submit their designations to Treasury.

Richard Sherman of the Seneca Group offers recommendations for how Congress can improve the Railroad Improvement Financing Program through an infrastructure bill.