The $300 million of Gulf Opportunity Zone bonds allocated for a rail car manufacturing plant in Colbert County, Ala., would be in jeopardy under a bill that has been introduced in the House that would effectively block any tax-exempt financing for the project.

The bill, introduced by House Ways and Means Committee member Rep. Earl Blumenauer, D-Ore., would restrict the two newest additions to the Gulf Opportunity Zone - Colbert County as well as Dallas County in Alabama - to allocating GO Zone bonds only for projects that began after they were added to the zone. The bill is pending in the committee.

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