NABL Submits Infrastructure Proposals
The National Association of Bond Lawyers has put together eight legislative tax-exempt bond proposals to facilitate building and maintaining infrastructure. The proposals have been sent to the Treasury Department, the National Economic Council, the Senate Finance Committee and the House Ways and Means Committee.
The eight proposals are:
1. Create a new category of private activity bond for privately-operated roads, tunnels, and bridges.
2. Provide a direct-pay alternative to tax-exempt financing.
3. Increase the dollar limits for bank-qualified bonds and apply the provisions as revised to conduit borrowers.
4. Allow for greater use of tax-exempt bonds for manufacturing facilities.
5. Facilitate charter school financing by eliminating a mortgage prohibition.
6. Allocate additional volume cap for various tax-advantaged bonds and increase volume cap for tax-exempt private activity bonds.
7. Eliminate the unrelated or disproportionate component of the private business use test and the dollar limits on private business use.
8. Permit refunding of bonds where less than 85 percent of proceeds has been spent.
The National Association of Bond Lawyers has put together eight legislative tax-exempt bond proposals to facilitate building and maintaining infrastructure. The proposals have been sent to the Treasury Department, the National Economic Council, the Senate Finance Committee and the House Ways and Means Committee.
The eight proposals are:
1. Create a new category of private activity bond for privately-operated roads, tunnels, and bridges.
2. Provide a direct-pay alternative to tax-exempt financing.
3. Increase the dollar limits for bank-qualified bonds and apply the provisions as revised to conduit borrowers.
4. Allow for greater use of tax-exempt bonds for manufacturing facilities.
5. Facilitate charter school financing by eliminating a mortgage prohibition.
6. Allocate additional volume cap for various tax-advantaged bonds and increase volume cap for tax-exempt private activity bonds.
7. Eliminate the unrelated or disproportionate component of the private business use test and the dollar limits on private business use.
8. Permit refunding of bonds where less than 85 percent of proceeds has been spent.
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