CDFA Advocacy Update - October 6, 2026
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Latest Developments |
SSBCI Coalition Calls for Treasury Guidance as Program Winds Down
CDFA and members of the SSBCI Coalition recently urged the U.S. Department of the Treasury to provide timely guidance on the conclusion of SSBCI and the long-term treatment of SSBCI funds. The letter calls for clarity on program closeout, reporting requirements, recycled capital, program modifications, evergreen structures, and governance as jurisdictions plan for the future. The Coalition also urged Treasury to establish a clear pathway to defederalize and unencumber funds after jurisdictions complete federal requirements, allowing recycled capital to continue supporting small businesses and entrepreneurs. Members can continue the conversation at CDFA's SSBCI Convening on Wednesday, November 18, from 1:00 PM - 3:00 PM during the 2026 National Development Finance Summit in Savannah, Georgia. The convening will highlight success stories and lessons learned while allowing peers to exchange ideas on deploying capital, strengthening entrepreneurial ecosystems, and sustaining SSBCI's momentum.
Treasury Extends Opportunity Zone Designation Period for States & Territories
The U.S. Department of the Treasury has granted an automatic 30-day extension to every jurisdiction's Opportunity Zone determination period, giving states and territories until October 28, 2026, to submit their designations without requiring Governors to request an extension. Separately, the IRS and Treasury issued Notice 2026-55
on September 22, requesting comments on the implementation of the amended Opportunity Zone regime, including guidance for Qualified Opportunity Funds (QOFs), Qualified Opportunity Zone Businesses (QOZBs), working capital safe harbors, 10-year investment elections, and investments in Tribal and Alaska Native communities. Written comments are due by November 23, 2026, although late submissions may be considered if they do not delay guidance.
Federal Film and TV Tax Credit Gains Senate Support
The bipartisan Motion Picture, Television, and Entertainment Revitalization Act (H.R. 10582) introduced on September 24, 2026, gained eight new Senate co-sponsors, bringing additional bipartisan support to legislation that would establish a 20% federal tax credit for film and television production. The credit would apply to qualifying productions with at least $1 million in spending and 75% of principal photography days in the United States. The bill also includes 5% bonus credits for productions in rural Opportunity Zones or disaster areas, independent productions, and projects that increase domestic production. The legislation would complement state incentives and allow producers to transfer credits. Negotiations remain ongoing, with lawmakers considering the legislation as part of potential year-end tax or spending legislation.
Congressional Action on Crypto Legislation Continues
The Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), which would establish a federal regulatory framework for digital assets and clarify the roles of the Securities and Exchange Commission and Commodity Futures Trading Commission, advanced through the Senate Banking Committee on a 15-9 vote in May 2026 before reaching the Senate floor. On September 15, 2026, a 49-50 Senate vote to begin consideration of the bill fell short of the 60 votes needed to advance. A motion to reconsider the vote was subsequently entered.
Meanwhile, the Digital Asset Tax Certainty Act (H.R. 10357) was introduced on September 14 and advanced to the full House by the House Ways and Means Committee on September 16 by a 38-5 vote. The bill would establish federal tax rules for digital assets, including provisions addressing reporting, wash sales, mining and staking, a $10 de minimis threshold for certain transactions, and a digital asset voluntary disclosure program. With no additional House floor days currently scheduled in October, further consideration of the legislation is unlikely before the November elections.
Farm Bill Reauthorization Unresolved as Congress Faces Year-End Deadline
The remaining authorities of the 2018 Farm Bill expired September 30, 2026, following three extensions since the law's original 2023 expiration. Congress has made progress on a new five-year farm bill, but a final agreement remains outstanding. The House passed the Farm, Food, and National Security Act of 2026 (H.R. 7567) on April 30 by a 224-200 vote. The Senate Agriculture Committee subsequently advanced the Agricultural Act of 2026 (S. 5526) on September 16, after an earlier version failed to advance in August. Senate Agriculture Committee Chairman John Boozman said negotiations with House counterparts are underway, with the goal of passing a final farm bill before the end of the year.
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Upcoming Events |
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Notice of Funding Opportunities |
Promoting Resilient Operations for Transformative, Efficient, and Cost-Saving Transportation (PROTECT) Competitive Grant Program
The Promoting Resilient Operations for Transformative, Efficient, and Cost-Saving Transportation (PROTECT) Competitive Grant Program funds projects to improve the resilience of the surface transportation system, including highways, public transportation, ports, and intercity passenger rail. Program goals include protecting: surface transportation assets by making them more resilient; communities through resilience improvements and strategies that allow for the continued operation or rapid recovery of surface transportation systems; coastal infrastructure; and natural infrastructure that protects and enhances surface transportation assets. Applications are due October 9, 2026.
Innovative Water Infrastructure Workforce Development Grant
The U.S. Environmental Protection Agency (EPA) is soliciting applications under the authority of the Safe Drinking Water Act (SDWA) section 1459E to accelerate career pipelines in the water utilities sector and provide access to water utility workforce opportunities. This action advances the Administration's priorities, including the goals of Make America Healthy Again, by focusing on building the nation's water workforce which is critical to ensuring public health and environment protection. The program will provide $10.8M in total funding, with approximately 15 awards expected. Applications are due October 15, 2026.
FY 2027 Infrastructure Investment and Jobs Act (IIJA) FAA Contract Tower (FCT) Competitive Grant Program
The Department of Transportation (DOT), Federal Aviation Administration (FAA) is offering up to $100 million in FY 2027 Airport Infrastructure Grant funding for the FCT competitive grant program. Grants will support eligible airports with airport-owned air traffic control tower projects, including construction, repair, modernization, replacement, relocation, and related equipment, as well as FAA-certified remote towers. Individual awards range from $25,000 to $55 million. Applications are due October 19.
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Legislative & Federal News |
House Republicans Hold Field Hearing in Collierville
KWAM | Oct. 6 | Legislative
Crypto Super PAC to Back Candidates in 32 House Races
AOL | Oct. 5 | Innovation Finance | Legislative
Senate GOP's Debt Limit Dilemma
Punchbowl News | Oct. 5 | Legislative
Digital Asset Tax Reform Bill Advances with Broad Business Implications
RSM | Sep. 30 | Innovation Finance | Legislative
Farm Aid Faces a Critical Delay as Growers Confront Rising Costs and Mounting Debt
AgroLatam | Sep. 30 | Agriculture Finance | Legislative
Financing Climate Adaptation and Resilience: Ten Policy Approaches
Climate Bonds Initiative | Sep. 30 | Bond Finance | Energy Finance | Legislative | Resiliency
Sky-High Yields Mean GOP Palpitations
Punchbowl News | Sep. 30 | Bond Finance | Federal
USDA Increases Investment in Regenerative Pilot Program to Lower Farmer Production Costs
U.S. Department of Agriculture | Sep. 29 | Agriculture Finance | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA)
Opportunity Zones Were Meant to Spur Investment. Their Impact is Unclear, a GAO Report Shows.
SmartCitiesDive | Sep. 28 | Federal | Opportunity Zones
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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 about CDFA, visit www.cdfa.net.
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