House Municipal Caucus Co-Chairs Ruppersberger (D. Md) and Stivers (R-Ohio) and 8 colleagues have introduced H.R.2772 - Investing in Our Communities Act.
The bill would restore the tax exemption for advance refundings. Note that the cosponsors include those from our member states of Maryland, Ohio, New York, Illinois, California, and Washington. Authorities from those states, please thank these members for introducing the bill. All member authorities should encourage their House delegation to cosponsor the bill. If you need help on these communications please let me know but they should be individually tailored as much as possible. For more background, here is a recent Public Finance Network letter (in final form it included NAHEFFA.)
It obviously is quite problematic whether this bill will become law this year. Besides senior Republican opposition to it, even the faint hopes for infrastructure legislation are diminishing amidst presidential politics. Nonetheless, however far this legislation proceeds in the House we want to be supportive of it. We are also working on getting the small borrowers/BQ legislation introduced as well.
Please let me know if you have any questions.
The bill would restore the tax exemption for advance refundings. Note that the cosponsors include those from our member states of Maryland, Ohio, New York, Illinois, California, and Washington. Authorities from those states, please thank these members for introducing the bill. All member authorities should encourage their House delegation to cosponsor the bill. If you need help on these communications please let me know but they should be individually tailored as much as possible. For more background, here is a recent Public Finance Network letter (in final form it included NAHEFFA.)
It obviously is quite problematic whether this bill will become law this year. Besides senior Republican opposition to it, even the faint hopes for infrastructure legislation are diminishing amidst presidential politics. Nonetheless, however far this legislation proceeds in the House we want to be supportive of it. We are also working on getting the small borrowers/BQ legislation introduced as well.
Please let me know if you have any questions.
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