The Council of Development Finance Agencies submitted a 14-page legislative package to a House Ways and Means tax reform working group, detailing the need for tax law changes that it said would “modernize and revolutionize” qualified small issue manufacturing bonds.

These tax-exempt, private activity bonds, formerly called industrial development bonds, are used to finance small to mid-sized manufacturing projects, CDFA said, calling them “a key economic development tool for state and local economic development agencies.”

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