CDFA will be hosting an important legislative briefing this Wednesday, April 8 at 4:00 pm (Eastern). We'll be discussing the latest information about the next stimulus act from Congress and the urgent actions development finance agencies should take.

CDFA developed the COVID-19 Resource Center to serve as a central hub of everything the development finance world is doing to mitigate the impacts of COVID-19. CDFA's Weekly Development Finance COVID-19 Briefings will highlight these mitigation and recovery efforts.

CDFA is pleased to announce that Senators Gary Peters (D-MI), Debbie Stabenow (D-MI), Jeanne Shaheen (D-NH) and Maggie Hassan (D-NH) have introduced a bill to reauthorize the State Small Business Credit Initiative (SSBCI) in the U.S. Senate as S. 3551.

The American Public Transportation Association (APTA) endorsed U.S. Democratic House leaders' call this week for work on a fourth economic recovery legislative package in response to the coronavirus pandemic, with the next bill focused on infrastructure.

Based on the input of our 500+ members, CDFA has developed a set of policy proposals that would allow state and local governments, through development finance agencies, to be immediate problem solvers that can help alleviate the extreme economic challenges facing small businesses and communities to put America securely on the path to recovery.

A $760 billion infrastructure plan packed with help for the public finance sector is being offered by House Democrats as the legislative vehicle for the fourth coronavirus emergency spending bill that would focus on economic stimulus.

This is a summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act from the Congressional Research Service. This is the third in a series of legislative packages addressing the COVID-19 pandemic.

The legislation signed provides paid sick and family leave for some for U.S. workers impacted by the illness, expands unemployment assistance, includes nutrition assistance and increases resources for testing. Efforts are already underway to put together a third, larger relief measure that could total $1 trillion.

Representative Earl Blumenauer (OR-03), Mike Kelly (PA-16), Darin LaHood (IL-18), and Dan Kildee (MI-05) today introduced the Revitalizing Economies, Housing, And Businesses (REHAB) Act of 2019, which would reinstate and improve a tax credit ("REHAB credit") for buildings that are more than 50 years old and within one-half of a mile of a public transportation center.

U.S. Representative Danny Davis of Illinois' 7th Congressional District just became a co-sponsor of H.R. 5422, the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA). The six reforms contained within MAMBA would lower capital access barriers for small manufacturers and first-time farmers by modernizing how the Internal Revenue Code regulates the issuance of small issue bonds.

The CARES Act establishes a new $349 billion Paycheck Protection Program that will provide much-needed access to capital so they can sustain their businesses and keep their workers employed. The new loan program will be available retroactive from Feb. 15, 2020, so that employers can rehire their recently laid-off employees through June 30, 2020.

This is a Summary of the Supplemental Appropriations included in the Senate's third COVID-19 Stimulus package, the CARES Act. More than 80% of the total $339.855 billion provided in the emergency supplemental appropriations goes to state and local governments and communities.

USDA Rural Development has taken several immediate actions to help rural residents, businesses and communities affected by the COVID-19 outbreak. Rural Development will keep its customers, partners, and stakeholders continuously updated as more actions are taken.

Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19) through the Economic Injury Disaster Loan Program.

The Office of Management and Budget released a memorandum late Tuesday that instructed agency leadership to use the "full extent of their legal authority and discretion" to realign their agencies' non-mission-critical operations in a way that cuts down on the risk of coronavirus exposure.

To keep renters in multifamily properties in their home and to support multifamily property owners during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) is announcing that Fannie Mae and Freddie Mac (the Enterprises) will offer multifamily property owners mortgage forbearance with the condition that they suspend all evictions for renters unable to pay rent due to the impact of coronavirus.

U.S. Department of Agriculture Rural Development announced that the agency has extended the deadline for ReConnect Pilot Program applications to April 15 in light of the COVID-19 pandemic. This program provides funding to rural businesses, cooperatives, and communities to help bring high-speed broadband connectivity to rural communities.

Following President Donald J. Trump's emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and IRS issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.

USDA is providing financing through the Electric Loan Program. It will help build and improve 2,743 miles of line to strengthen reliability in rural areas and will benefit 1.1 million rural residents and businesses. The loans include $17 million for investments in smart grid technology that uses digital communications to detect and react to local changes in electricity usage.

IRS Notice 2020-10 provides population figures to calculate calendar-year 2020 limits for private activity bonds (PABs) and low-income housing tax credit (LIHTC). The PAB cap is the greater of the population multiplied by $105 or $321,775,000. The LIHTC cap for each state is the greater of the population multiplied by $2.8125 or $3,217,500.