After the American Rescue Plan Act was signed into law by President Biden on March 11, 2021, it guaranteed direct relief to all 19,000 cities, towns, and villages in the United States. NLC has identified frequently asked questions about the...

The Families First Coronavirus Response Act, CARES Act, Consolidated Appropriations Act of 2021, and the American Rescue Plan Act included billions of dollars in supplemental funding for human services and education programs as well as various...

The Made in America Tax Plan Report describes President Biden’s Made in America tax plan, part of the newly announced American Jobs Plan. Importantly, this tax plan would generate new funding to pay for a sustained increase in investments in...

This report from Drexel University's Nowak Metro Finance Lab provides a guide to federal funding in the American Rescue Plan (ARP). The authors place a special emphasis on formula funds received by local anchors, competitive grants, and funds...

This table includes all the federal-to-local funding streams in the American Rescue Plan that reach cities and their residents. It does not include appropriations to Tribal Governments or Agency appropriations focused on program operations at the...

This excel sheet from the CDFI Fund contains transaction-level data collected on New Markets Tax Credit (NMTC) investments across the nation from fiscal years (FY) 2003 - 2019.

SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call serving as an interface between Treasury and stakeholders during the rulemaking process. On March 26, 2021, we discussed insights and...

This publication provides an overview of the federal tax law rules that apply to municipal financing arrangements commonly known as “governmental bonds.” It is intended to help issuers meet federal tax law requirements to ensure that interest...

SSBCI was signed into law as part of the American Rescue Plan Act of 2021. CDFA hosted this National SSBCI 2.0 Call with interested stakeholders on March 11, 2021, to discuss SSBCI 2.0. We discussed key SSBCI 2.0 questions and timelines. We also...

Organizations received $175.35 million from the FY2020 round of the Capital Magnet Fund. Awardees plan to develop nearly 23,000 Affordable Housing Units, including more than 20,300 Rental Units and more than 2,600 Homeownership Units. Combined, 97%...

This CDFA Legislative Briefing took place on February 17, 2021. Topics discussed included re-introducing the Modernizing Agricultural and Manufacturing Bonds Act (MAMBA) and the State Small Business Credit Initiative (SSBCI) along with the latest...

This interactive data tool from the Federal Reserve Bank of St. Louis shows total SSBCI investments, percent of investments in LMI and rural areas, investments by MSA, investments by loan programs, CDFIs, and more.

To address local disparities and help struggling areas thrive, governments at all levels have spent billions of dollars on a range of geographically targeted, or "place-based," economic development programs — mostly in the form of financial...

This CRS report examines the SSBCI program and its implementation, including Treasury’s response to initial program audits conducted by the U.S. Government Accountability Office and Treasury’s Office of Inspector General. These initial audits...

The Municipal Liquidity Facility is a Federal Reserve program created in April as a new financing source for state and local governments. This MLF factsheet was produced by the Pew Charitable Trusts in October 2020.

This report provides an update as of November 23, 2020 on all of the Federal Reserve's outstanding lending facilities. These include the Primary Dealer Credit Facility (PDCF), the Commercial Paper Funding Facility (CPFF), the Municipal Liquidity...

IRS Revenue Procedure 2020-45 sets out the 2021 Low-Income Housing Tax Credit and Bond Volume Caps.

The COVID-19 pandemic has exposed acute and deep-rooted connections between physical and economic health. Many of the same places hit hardest by the pandemic are reeling concurrently from the health crisis, business closures, and job losses. These...

This report provides a five-step roadmap towards a more inclusive, dynamic, and productive small-business sector. The report breaks down the five steps into ten major policy recommendations with detailed policy proposals. It was authored by the...

The findings in this report primarily reflect the financial circumstances of families in the United States in late 2019, prior to the onset of COVID-19 and the associated financial disruptions. This survey contains updated information from follow-up...

The New Markets Tax Credit program, created to spark investment in disadvantaged communities, has become a valuable source of flexible capital for healthcare providers and health systems to tackle the immediate needs of both their organizations and...

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, finance experts discussed the Municipal Liquidity Facility's requirements, market trends since the MLF's launch, and what can be done to make the MLF an attractive...

The Department of the Treasury Office of Inspector General (OIG) is responsible for monitoring and oversight of the receipt, disbursement, and use of Coronavirus Relief Fund (CRF) payments. Treasury OIG was also assigned authority to recover funds...

Congress is considering federal funding for infrastructure to revive an economy damaged by COVID-19. Congress previously provided infrastructure funding for economic stimulus in the American Recovery and Reinvestment Act of 2009. This Congressional...

The CDFI Fund has released its calendar year 2019 awards for the New Markets Tax Credit (NMTC) program. The round of funding awarded over $3.5 billion in NMTC allocation to 76 community development entities.

The SBA, in consultation with the Treasury Department, released detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). This disclosure covers each of the 4.9 million PPP loans that have been made through July...

This is the 2020 edition of NMTC Coalition’s annual report on the loans, investments, and community impact of the New Markets Tax Credit.

During the first installment of the CDFA-PFM Capital Markets Webinar Series, we focused on the market impacts of COVID-19 through the start of June and what can be expected going forward.

The National League of Cities, National Low Income Housing Coalition, and National Alliance to End Homelessness, and Mayors & CEOs for U.S. Housing Investments prepared this guide for elected officials to help maximize federal resources made...

The findings in this report primarily reflect the financial circumstances of families in the United States in late 2019, prior to the onset of COVID-19 and the associated financial disruptions. The survey also explored long-run financial...

This is a term sheet for the Federal Reserve Bank's Municipal Liquidity Facility. It was updated on May 11, 2020.

This document provides an overview of information on Internal Revenue Service (IRS) regulations with respect to brownfields investment in Opportunity Zones. Learn more about how Opportunity Zones can help local governments meet goals for sustainable...

During the April 17, 2020 Weekly COVID-19 Development Finance Briefing, panelists discussed the latest movements in the capital markets. Speakers included Mike Decker with the Bond Dealers of America, Eric Kazatsky with Bloomberg Intelligence, Tom...

This report to Congress examines the Board of Governors of the Federal Reserve's establishment of the Municipal Liquidity Facility (MLF) to help facilitate access to credit and liquidity so that state, city, and county governments are better able to...

This report to Congress examines the Board of Governors of the Federal Reserve's establishment of the Main Street New Loan Facility (MSNLF). The MSNLF is intended to facilitate lending to small and medium-sized businesses by eligible lenders.

This report to Congress examines the Board of Governors of the Federal Reserve's establishment of the Main Street Expanded Loan Facility (MSELF). The MSELF is intended to facilitate lending to small and medium-sized businesses by eligible lenders.

This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and...

During this Legislative Briefing, we discussed the latest information about the next stimulus act (Phase 4) from Congress and the urgent actions development finance agencies should take. We examined legislative reactions to the CARES Act, what we...

As mandated through the Housing and Economic Recovery Act of 2008, state agencies administering the Program are required to submit demographic and economic data on LIHTC tenants to HUD. While not inclusive of all tenants served by the LIHTC, the...

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...

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...

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) for all 50 states, Washington, D.C., and Puerto Rico. The PAB cap is the greater of the...

CALED knows from its work supporting economic development throughout California that infrastructure financing is a challenge for many rural communities. CALED collaborated with CDFA to develop this guidebook to meet the need for a resource to help...

"Moving America and the Environment Forward" is a House Ways and Means Committee statement of principles on how the committee wants to approach an infrastructure bill. It includes $760 billion of proposals.

This report by the Staff of the Joint Committee on Taxation was prepared on January 29, 2020 for a hearing before the House Committee on Ways and Means. It discusses an overview of infrastructure financing options, including the highway trust fund,...

Please be advised that on Tuesday, January 21, 2020, the Internal Revenue Service released a revised Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds (“IRS Form 8038-CP”).

This Community Developments Fact Sheet summarizes certain aspects of the Historic Tax Credit (HTC) program for national banks and federal savings associations (collectively, banks) and explains how HTCs may be used to support a bank’s affordable...

The Low-Income Housing Tax Credit (LIHTC) is a complex but crucial tool for the production and preservation of affordable rental housing. In this report, the Urban Institute outlines the basics of the LIHTC program, including how it works, the...

This document contains final regulations governing the extent to which taxpayers may elect the Federal income tax benefits provided by section 1400Z-2 of the Internal Revenue Code (Code) with respect to certain equity interests in a qualified...

On December 13, 2019, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) announced a proposal to modernize the agencies’ regulations under the Community Reinvestment Act (CRA) that have not been...