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Legislative and Federal Affairs Update
April 4, 2017
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Legislative and Federal Affairs Update


Sens. Brown (OH) and Perdue (GA) Reintroduce MAMBA in the U.S. Senate
CDFA is pleased to announce that Senators Brown (D-OH) and Perdue (R-GA) have reintroduced the Modernizing American Manufacturing Bonds Act (MAMBA) in the U.S. Senate. MAMBA, and its companion bill in the House (H.R. 1115), represents a comprehensive reform package that will modernize and revolutionize Qualified Small Issue Manufacturing Bonds, commonly known as Industrial Development Bonds (IDBs).

Rep. Young Reintroduces FFARM Act Expanding Aggie Bonds
The National Council of State Agricultural Finance Programs (NCOSAFP) and CDFA are pleased to announce that Rep.Young (R-IA) has reintroduced the Facilitating Farmers' Access to Resources and Machinery Act (FFARM Act), expanding certain exceptions to private activity bond rules for first time farmers. To view the Bond Buyer article, click here.

Legislative Features

Groups Paper Lawmakers with Pleas to Save Tax Exemption
More than 50 state, local and industry groups including the U.S. Conference of Mayors, Government Finance Officers Association and the American Society of Civil Engineers sent letters to Capitol Hill urging House leaders and tax-writers to maintain the tax-exempt status of municipal bonds.

New Bill Injects Capital into Needy Communities
The Investing in Opportunity Act (IIOA), is an innovative reimagining of how to incentivize private investment in underserved areas of the country. IIOA encourages investors of all types to redeploy their capital gains into underserved, low-income areas called "Opportunity Zones."

Reps. Want to Finance Infrastructure Through Repatriated Earnings
US House Reps. Delaney, Davis, and Yoho introduced a pair of bills that together would support the Highway Trust Fund through repatriated corporate earnings, and create a $50 billion national infrastructure bank.

JCT's Analysis is Hurting Case for Tax-Exempts
The analysis used by the Joint Committee on Taxation to show tax-exempts are inefficient is flawed and unfairly hurts municipal bonds, George Friedlander, a managing partner at Court Street Group Research, said at a conference in Florida last week.

What You Need to Know About Tax Reform and Infrastructure
Legislative experts at a recent conference agree; in the midst of enormous uncertainty about the future of tax reform and its impact on municipal bonds, it is critical for muni market participants to continue to lobby lawmakers to preserve the tax exemption.

Muni Finance Caucus Sends Letter to W&M
Reps. Randy Hultgren and Dutch Ruppersberger, leaders of the Municipal Finance Caucus, sent a letter defending tax-exempt bonds to Chairman Kevin Brady and Ranking Member Richard Neal of the House Ways and Means Committee. 154 House Members signed the letter.

House Panel Considers Proposed Changes to Investor Visa Program
The House Judiciary Committee recently held a hearing to consider changes to the EB-5 investor visa program. In January the DHS published a notice in the Federal Register requesting comments on proposed amendments to its regulations governing the EB-5 program.

Investing in Opportunity Act Introduced in US House & Senate
Reps. Pat Tiberi (R-OH) and Ron Kind (D-WI), in addition to Sens. Scott (R-SC) and Cory Booker (D-NJ) have introduced a bill to help revitalize economically distressed communities suffering from a lack of investment and new business growth.

Federal Features

CDFA Responds to the President's Budget
CDFA strongly disagrees with the President's budget recommendations - which would gut essential, longstanding economic development programs - and urges Congressional leaders to reject any budget proposal that weakens federal support for economic development.

NCOSAFP Releases 2017 Policy Agenda
The National Council of State Agricultural Finance Programs is pleased to announce the release of their 2017 Federal Policy Agenda. The Agenda outlines areas they believe are essential to improving the state of agricultural finance in the United States.

Trump Proposes $17.9B More Budget Cuts for FY-2017, Gutting TIGER, CDBG
Having failed to get Congress to enact a health care bill to replace the Affordable Care Act, President Trump may now be setting up a contentious debate with lawmakers over the budget for fiscal 2017, which is almost half over.

Federal Gov't. Incentivizes Recycling of Municipal Infrastructure
Municipalities are encouraged by the federal government to sell existing assets that have revenue streams by providing a financial incentive that is a percentage of the sales price. The proceeds of the sale are required to be held in a account that can only be used to fund new infrastructure projects.

$7B and Unclear Future for New Markets Tax Credits
In his private sector career as a real estate developer, Donald Trump made use of tax incentives for his projects on several occasions. This begs the question, "Where does the administration stands on expansion, curtailment or simply continuation of the NMTC?".

Water Infrastructure Funding: Where Do We Go from Here?
With the future of tax-exempt bonds in question, and with growing uncertainity over which communities will benefit from WIFIA, water finance officials are speculating on how the industry will overcome the $600 billion funding gap for water and wastewater infrastructure.

USDA Announces $1.35M to Support Data-Driven Farm Management Practices
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced $1.35 million in available funding to provide agricultural producers with training and data to strengthen their business management skills.

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 National Aeronautics and Space Administration (NASA)

Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has...

Agency Seal National Science Foundation (NSF)

National Science Foundation Grant Programs
The National Science Foundation (NSF) funds research and education in most fields of science and engineering. It does this through grants and cooperative agreements to more than 2,000 colleges,...

Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has...

Agency Seal U.S. Citizenship and Immigration Services (USCIS)

EB-5 Immigrant Investor Program
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program,...

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

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