NCSHA Teams with Other Bond Supporters to Urge Finance Committee Working Group to Support Tax Exemption for Municipal Bonds
On February 26, NCSHA joined other members of the Municipal Bonds for America coalition in a letter to Community Development and Infrastructure Working Group co-chairmen, Senator Dean Heller (R-NV) and Senator Michael Bennett (D-CO), in support of the tax-exempt status of municipal bonds, including qualified private activity bonds. The Community Development and Infrastructure Working Group is one of five bipartisan working groups that Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) established in an effort to advance comprehensive tax reform. Hatch and Wyden assigned each working group a portion of the tax code to review and charged them with recommending proposals for change. The Community Development and Infrastructure Working Group has jurisdiction over bonds, including Housing Bonds, and the Housing Credit program among other tax provisions. The Working Groups are expected to make recommendations to the Hatch and Wyden later this Spring.
The letter emphasized the critical role bonds play in infrastructure development and how important the exemption from federal income tax is to their continued success. Contact NCSHA’s Jennifer Schwartz with any questions.