Rep. Bill Pascrell, D-N.J., has introduced a bipartisan bill that would allow states ravaged by Hurricane Sandy to issue billions of dollars of private activity bonds outside federal and state volume caps to pay for the rebuilding of docks, commuting facilities, multi-family housing and infrastructure facilities.

The Hurricane Sandy Tax Relief Act of 2013 (HR 2137), which is co-sponsored by 28 lawmakers from Connecticut, New Jersey and New York, including eight Republicans, would also waive certain mortgage bond requirements for Sandy-related projects in disaster areas in these states.

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