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CDFA Legislative and Federal Affairs Update - November 1, 2022

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Legislative and Federal Affairs Update
November 1, 2022
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Legislative and Federal Affairs Update

Legislative Features

USDA Hosting Listening Session on Implementation of Inflation Reduction Act
The U.S. Department of Agriculture (USDA) Rural Business-Cooperative Service and Rural Utilities Service announced that they are hosting listening sessions for public input regarding the implementation of the Inflation Reduction Act. The first session will be held on November 3, 2022, and is aimed at rural communities, rural small businesses, and agricultural producers.

USDA Provides $759M for High-Speed Internet Access to Rural America
The U.S. Department of Agriculture (USDA) is providing $759M in loans and grants from the ReConnect Program to bring high-speed internet access to people living and working across 24 states, Puerto Rico, Guam, and Palau. These investments include funding from President Biden's Bipartisan Infrastructure Law, which provides a historic $65B to expand reliable, affordable, high-speed internet to all communities across the U.S.

San Antonio, TX Area Lands $2.5B for Infrastructure Projects from Infrastructure and Jobs Act
Bexar County, TX will get $2.5B for key highway projects as part of the Biden Administration's Bipartisan Infrastructure Law, according to a statement from U.S. Rep. Henry Cuellar. Most of that money will go to expanding the Interstate 35 northeast corridor, which connects San Antonio and Austin. Another $40M will be used to widen FM 1516 in the fast-growing suburb of Converse.

EPA Seeking Input to Help Implement Greenhouse Gas Reduction Fund
The Greenhouse Gas Reduction Fund provides $27B to the U.S. Environmental Protection Agency (EPA) for expenditure until September 30, 2024. The EPA is launching a coordinated stakeholder engagement strategy to help shape the implementation of the Greenhouse Gas Reduction Fund and ensure the full economic and environmental benefits of this historic investment are realized by all Americans.

USDA Provides Nearly $800M in Farm Loan Assistance to Help Distressed Farmers
The U.S. Department of Agriculture (USDA) announced that distressed borrowers with qualifying USDA farm loans have already received nearly $800M in assistance, as part of the $3.1B in assistance for distressed farm loan borrowers provided through the Inflation Reduction Act (IRA). The IRA directed USDA to expedite assistance to distressed borrowers of direct or guaranteed loans administered by the USDA's Farm Service Agency (FSA) whose operations face financial risk.

USDA Seeking Public Comment on Assistance to Agricultural Producers Who Have Experienced Discrimination
The U.S. Department of Agriculture (USDA) is seeking public comment on how it should implement Section 22007 of the Inflation Reduction Act (IRA), which aims assist the nation's farmers, ranchers, and forest landowners who experienced discrimination in USDA's farm lending programs and has appropriated $2.2 billion for this purpose. The 30-day comment period opens Friday, October 14, and closes on November 14, 2022.

Ohio to Get Nearly $2B in Federal Infrastructure Funding
Ohio members of Congress announced that Ohio will receive nearly $2B in funding from the Bipartisan Infrastructure Investment and Jobs Act for projects to improve Ohio's bridges, roads, tunnels, and other surface infrastructure. Ohio's money is part of $59.9B in funding that is being released across the nation in the second year of funding under the infrastructure bill.

President Biden Signs Bill Providing Incentives for Early Completion of Airport Projects
President Biden signed the Expedited Delivery of Airport Infrastructure Act of 2021 (H.R.468) to permit the use of Airport Improvement Program (AIP) funds to provide incentives for the early completion of airport projects. Under the bill, AIP grants can be awarded to public agencies and other entities to plan, develop, and execute infrastructure projects at public-use airports, such as runways and taxiways.

DOE Announces $2B from Bipartisan Infrastructure Law to Finance Carbon Dioxide Transportation Infrastructure
The U.S. Department of Energy (DOE) is accepting letters of interest from applicants for loans under a new $2.1B Carbon Dioxide Transportation Infrastructure Finance and Innovation (CIFIA) program. Enacted under President Biden's Bipartisan Infrastructure Law, CIFIA offers funding for large-capacity, shared carbon dioxide (CO2) transportation projects located in the United States. 

IRS Asks for Public Comment on Clean Energy Tax Incentives
The Internal Revenue Service (IRS) issued six notices asking for comments on different aspects of extensions and enhancements of energy tax benefits in the Inflation Reduction Act. The IRS anticipates that constructive comments from interested parties will aid the agency in drafting the guidance items most reflective of the needs of taxpayers entitled to claim energy credits. The deadline for comment is November 4, 2022.

Upcoming Events
CDFA Infrastructure Finance Learning Series: How Different Communities Can Benefit From IIJA

CDFA-Bricker Webinar Series: Democratization of Power
Wednesday, December 7, 2022 - 2:00 PM - 4:00 PM Eastern
This webinar will explore the potential utility cost savings and community benefits that municipalities can achieve by going solar. The presentation will provide examples of Ohio municipalities that have implemented solar projects and discuss these communities' path towards solar development. The panel will also discuss the potential issues and hurdles municipalities should consider when seeking to develop a solar project for their communities.

CDFA Federal Financing Webinar Series: Tools for Economic Growth with Treasury and SBA
Tuesday, December 13, 2022 - 2:00 PM - 3:30 PM Eastern
This session will highlight the resources available at the U.S. Department of Treasury and Small Business Administration to finance economic growth in distressed communities. Featured programs include the State Small Business Credit Initiative, the CDFI Fund, New Market Tax Credits, and other small business financing programs like SBA 504 and 7a.

Federal Features

Cheyenne River Sioux Tribe Telephone Receives $17M from USDA for Broadband
The Cheyenne River Sioux Tribe Telephone is getting $17M from the USDA to deploy a fiber-to-the-premises network to connect individuals, farms, and businesses to high-speed internet in Corson and Dewey counties (WY). Cheyenne River Sioux Tribe Telephone will be participating in the FCC's Affordable Connectivity and Lifeline programs and will serve socially vulnerable communities in those counties and on the Cheyenne River and Standing Rock Reservations.

EPA Announces Nearly $1B for Clean School Bus Program for 389 School Districts
Nearly $1B from President Biden's Bipartisan Infrastructure Law was awarded to 389 school districts spanning 50 states, Washington, DC, several Tribes, and U.S. territories through the U.S. Environmental Protection Agency's (EPA) Clean School Bus Program rebate competition. The funding will help the districts purchase over 2,400 clean school buses that will accelerate the transition to zero-emission vehicles and produce cleaner air in and around communities.

SBA Proposing Changes to 7(a) Loan and 504 Loan Programs
The U.S. Small Business Administration (SBA) is proposing to amend various regulations governing SBA's 7(a) Loan Program and 504 Loan Program, including the use of proceeds for partial changes of ownership, lending criteria, loan conditions, reconsiderations, and affiliation standards, to expand access to capital to small businesses and drive economic recovery.

New York Receives $38M from USDA to Bring More Local Foods to Communities and Schools
Governor Kathy Hochul announced that the U.S. Department of Agriculture (USDA) has awarded nearly $38M to the New York State Department of Agriculture and Markets and the New York State Education Department to further enhance the resilience of New York's food system by providing a boost to farmers and increasing access to local foods.

SBA Proposing to Reduce Barriers to SBIC Fund Manager Participation
The U.S. Small Business Administration (SBA) is proposing to revise the regulations for the Small Business Investment Company (SBIC) program to significantly reduce barriers to program participation for new SBIC fund managers and funds investing in underserved communities and geographies, capital-intensive investments, and technologies critical to national security and economic development.

USDA Invests $110M to Improve Health Care for Rural People in 43 States and Guam
The U.S. Department of Agriculture (USDA) announced that it is awarding $110M in grants to improve healthcare facilities in rural towns across the country. These grants will help 208 rural healthcare organizations expand critical services for nearly 5M people in 43 states and Guam.

Massachusetts, Michigan, and Wisconsin to Receive $435M for Broadband
The U.S. Department of the Treasury announced the approval of broadband projects in an additional group of three states under the American Rescue Plan's Coronavirus Capital Projects Fund (CPF): Massachusetts, Michigan, and Wisconsin. Together, these states will use their funding to connect more than 91,000 homes and businesses to affordable, high-speed internet.

DOT Expands Financing Program to Move Infrastructure Projects Forward
The U.S. Department of Transportation's (DOT) Build America Bureau will offer low-cost, flexible financing for transit and Transit-oriented Development (TOD) projects at the maximum level allowable. The new initiative "TIFIA 49" – part of the DOT's Transportation Infrastructure Finance and Innovation Act (TIFIA) program – would authorize the borrowing of up to 49 percent of eligible project costs for projects that meet certain eligibility requirements.

EDA Announced 51 "Build to Scale" Grants for Innovation and Tech-Based Development
The U.S. Economic Development Administration (EDA) is awarding 51 "Build to Scale" grants – totaling $47M – to organizations that support technology entrepreneurs, catalyze innovation, and fuel economic growth. The awardees will leverage an additional $48M in matching funds from a variety of private and public sector sources for investments that support advanced manufacturing, bioscience, clean energy, and blue economy clusters throughout the United States.

HUD Awards $10.4M to Public Housing Authorities to Make Public Housing Safer
The U.S. Department of Housing and Urban Development (HUD) is committing nearly $10.4M to help enhance the safety and security of public housing residents. Overall, 61 public housing authorities are receiving grants to make needed capital improvements at their public housing developments. The awards can be used to install, repair, or replace equipment such as surveillance cameras, fencing, and carbon monoxide detectors that contribute to a safer environment.

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

Agency Seal U.S. Dept. of Transportation (DOT)

Technology and Innovation Deployment Program
The FAST Act continues the Technology and Innovation Deployment Program, funding efforts to accelerate the implementation and delivery of new innovations and technologies that result from highway...

Agency Seal U.S. Dept. of Treasury

Coronavirus State and Local Fiscal Recovery Funds
The Coronavirus State and Local Fiscal Recovery Fund, created by the American Rescue Plan, will deliver $350 billion for eligible state, local, territorial, and Tribal governments to respond to the...

Agency Seal U.S. Environmental Protection Agency (EPA)

Brownfields Revolving Loan Fund (RLF) Grants
Revolving Loan Fund (RLF) Grants provide funding to capitalize loans that are used to clean up brownfield sites.

Agency Seal U.S. Small Business Administration (SBA)

Community Advantage (CA) Pilot Program
In the Community Advantage Pilot Program community-based, mission-focused lenders meet the credit, management, and technical assistance needs of small businesses in underserved markets.

Legislative and Federal Headlines

CDFA Responds to U.S. Treasury's SSBCI TA RFI
CDFA | Oct. 27 | Disaster Recovery & Relief | Federal | Legislative | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | Treasury State Small Business Credit Initiative (SSBCI) | COVID-19 | State Small Business Credit Initiative (SSBCI)

USDA Invests $14.2M in 52 Urban Agriculture and Innovative Production Efforts
USDA | Oct. 26 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | U.S. Dept. of Agriculture (USDA) | Urban Development | COVID-19

SBA Working Capital Loans Available in Parts of Minnesota
Owatonna People's Press | Oct. 24 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | U.S. Small Business Administration (SBA)

$143M in Federal Infrastructure Funds to be Used for Water Projects Across Wisconsin
WQOW | Oct. 20 | Infrastructure Finance | Legislative | Revolving Loan Funds (RLFs) | Water Finance | Water Finance | Drinking Water | Sewage & Waste | State Revolving Fund

Philadelphia, PA Minority Business Owners to Bid for ‘Historic' Federal Infrastructure Contracts
KYW | Oct. 20 | Federal | Infrastructure Finance | Social Finance | Transportation

Atlanta, GA Outlines Efforts to Redevelop Brownfield Sites With EPA Funds
The Atlanta Journal-Constitution | Oct. 19 | Brownfield Financing | Community Development | Federal | Redevelopment | Revolving Loan Funds (RLFs) | U.S. Environmental Protection Agency (EPA) | Urban Development

Record Interest in Rural Housing Development in Kansas
KRSL | Oct. 17 | Housing Finance | Legislative | Revolving Loan Funds (RLFs) | Rural Development | Tax Credits

USDA Conservation Resources Grants Available
Cape Gazette | Oct. 16 | Access to Capital | Agriculture Finance | Development Finance Toolbox | Federal | Rural Development

Federal Agencies Take New Steps to Boost Affordable Housing
Multi-Housing News | Oct. 10 | Community Development | Federal | Housing Finance | Rural Development | Tax Credits | U.S. Dept. of Treasury

Up to $20M for Construction of Grain Storage Facilities Impacted by Natural Disasters
DRG News | Oct. 7 | Access to Capital | Agriculture Finance | Disaster Recovery & Relief | Federal | Rural Development | U.S. Dept. of Agriculture (USDA) | COVID-19 | Case Studies

Biden-Harris Administration Announces Progress in Implementing Its Housing Supply Action Plan
The White House | Oct. 7 | Federal | Housing Finance | Rural Development | Tax Credits

Delta Receives $8.6M For Flood And Infrastructure Needs
Enterprise Journal | Oct. 6 | Access to Capital | Development Finance Toolbox | Federal | Infrastructure Finance | Legislative | U.S. Environmental Protection Agency (EPA) | Understanding Access to Capital | Understanding Infrastructure Finance

For Farm Bill, AG Groups Say, ‘We Want Some More'
Successful Farming | Oct. 6 | Access to Capital | Agriculture Finance | Federal | Rural Development


New Additions to the Online Resource Database

CDFA, SSBCI Coalition Respond to U.S. Treasury's SSBCI TA Grant Program RFI
Access to Capital | Disaster Recovery & Relief | Economic Development | Federal | Legislative | State Small Business Credit Initiative (SSBCI)
On October 20, CDFA and its SSBCI Coalition provided comments in response to the U.S. Department of the Treasury's request for information regarding the deployment of the remaining $200M in SSBCI Technical Assistance Grant Program funds.

U.S. Treasury Extends SSBCI TA RFI Deadline to November 3
Access to Capital | Disaster Recovery & Relief | Federal | Legislative | State Small Business Credit Initiative (SSBCI) | Economic Development
On September 20, 2022, the U.S. Department of the Treasury published a request for information for public comment on how it could use its authority to fund SSBCI Technical Assistance to qualifying businesses. The original RFI deadline was October 20, 2022. The new deadline is November 3, 2022.

U.S. Treasury Approves Eleven Additional SSBCI State Plans
Access to Capital | Disaster Recovery & Relief | Federal | Legislative | State Small Business Credit Initiative (SSBCI) | Economic Development
The U.S. Department of the Treasury announced the approval of state plans for Alaska, Idaho, Iowa, Massachusetts, Minnesota, Missouri, Nebraska, Nevada, New Mexico, Ohio, and Utah under the State Small Business Credit Initiative (SSBCI). Treasury has now announced the approval of 31 state plans for approximately $4.8B in SSBCI funding.


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


Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300
info@cdfa.net

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