NABL: Disaster Recovery Bonds Proposed.

he Council of Development Finance Agencies (CDFA) has recommended that Congress create a permanent category of tax-exempt private activity bonds, to be known as Disaster Recovery Bonds, which would support state and local government recovery efforts. The bonds would be similar to Gulf Opportunity Zone Bonds, Midwest Disaster Area Bonds, and Liberty Bonds.

In addition, earlier this month, Representatives Tom Reed (R-NY) and Bill Pascrell (D-NJ) introduced the National Disaster Tax Relief Act of 2017 (H.R. 3679), which would provide tax relief, including bond provisions, for major disasters between 2012 and 2015 and would also provide additional permanent disaster relief provisions, again including bond provisions, that would be triggered by a federal disaster declaration.

The CDFA press release is available here.

H.R. 3679 is available here.



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