During the next installment of the CDFA Tribal Financing Webinar Series: Empowering Native Entrepreneurs Through Access to Capital, practitioners will present strategies and highlight finance programs that are helping to increase access to capital and aiding the creation of successful small businesses. Join us on Tuesday, April 23!

McGuireWoods' public finance team delivered another strong performance for clients in 2023, ranking among the top bond counsel in the Southeast United States and retaining its position as No. 1 bond counsel in Virginia, according to data published by The Bond Buyer, the daily newspaper of public finance.

The U.S. Senate Environment and Public Works Committee recently marked up legislation reauthorizing the Economic Development Administration (EDA) for the first time in nearly 20 years. The EDA is vital to growing small businesses across America and its reauthorization is a nonpartisan issue.

Gov. Tony Evers, together with the Wisconsin Housing and Economic Development Authority, announced that the Infrastructure Access Loan program is now available to developers and municipalities statewide.  "We made one of the largest state investments in state history in our most recent budget, and I'm excited to see this program and others supporting housing partners across our state," said Gov. Evers.

The Internal Revenue Service (IRS) granted approximately $8.2 million in unused low-income housing tax credit (LIHTC) allocation authority to states this week from fiscal year 2022, nearly triple the $3.2 million in unused allocation authority originally reallocated in October 2023.

Richmond, VA is changing its financial structure to pay for a new baseball stadium. The City Council will use a City Special Revenue Bond Approach instead of a Community Development Authority revenue bond approach to finance the baseball stadium and Phase One infrastructure work of the Diamond District. This means costs will be reduced by about $215 million over 30 years due to a decreased interest rate.

Tennessee General Assembly provided rural communities with access to the funds they need to mitigate disasters. The Resilient Tennessee Revolving Loan Fund is a key step toward strengthening Tennessee communities against increasingly costly and deadly natural disasters. The Resilient Tennessee Revolving Loan Fund will help communities identify and fund critical projects by providing access to federal funds.

California has announced the launch of the Technical Assistance for Capital Readiness Program. This initiative, backed by $25.3 million in funding from the U.S. Treasury's State Small Business Credit Initiative (SSBCI), aims to provide critical support to businesses with 1-9 employees, small manufacturing companies, and businesses operated by owners from underserved communities.

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This announcement addresses the Federal income tax treatment under the Internal Revenue Code of amounts paid toward the purchase of energy efficient property and improvements under the Department of Energy Home Energy Rebate Programs pursuant to the Inflation Reduction Act of 2022.

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