Tax-exempt bonds

The U.S. Department of Housing and Urban Development said Thursday it is expanding the Rental Assistance Demonstration program to Section 202 PRAC units that house senior citizens.

The Council of Development Finance Agencies recommends that conduit issuers cover their costs by imposing fees.

The bipartisan legislation would increase the bank-qualified cap to $30 million from $10 million, a high priority for several muni market groups.

Republican Rep. Tim Burchett of Tennessee touts his bill as “a good example of giving businesses an incentive to lower carbon emissions without forcing it upon them with regulations.”

The impact of defaults by non-GO bonds was negligible to nonexistent on the ratings of GO bonds issued by the same local governments.

Rep. Terri Sewell, an Alabama Democrat, on Wednesday delayed filing the bill in conjunction with a Public Finance Network event with congressional staff that highlighted the benefits of these bank private placements as well as advance refunding.

The U.S. Energy Information Administration estimates there are 990,000 electric vehicles on the road this year and that number will grow to 1.5 million next year and 2.17 million in 2021.

Bank qualified debt, also known as BQ debt and bank eligible, allows banks to deduct most of the carrying cost of those bonds as a business cost.

Under the bill, if more than 65% of carbon dioxide emissions from a given facility are captured and injected underground, then 100% of the eligible equipment can be financed with PABs.

The association filed a court brief supporting Indian River County’s appeal of private activity bonds for the privately owned passenger train project.