July 31, 2024 — The hearing of the US Senate’s Committee on Finance regarding Tax Tools for Local Economic Development.  This topic will be gaining speed as some of the tax provisions of the 2017 Tax Act will be dropping off at the end of 2025. 

The hearing focused on retaining the tax-exempt nature of municipal bonds, reinstating advance refundings and increasing the bank-qualification limits.  Additionally, the hearing discussed a number of tax credits, such as the New Market Tax Credits, Opportunity Zones and direct-pay subsidy bonds (i.e. Build America Bonds). 

We have attached a link to the hearing for your viewing pleasure (https://www.finance.senate.gov/hearings/tax-tools-for-local-economic-development).  The PFN will be drafting a statement for the record.  Please share any information that will help NSDC take a position.