MBFA Letter to Senate and House Leaders on H.R. 1
House Republican leaders on November 2 released their tax reform bill, the Tax Cuts and Jobs Act, H.R. 1, in advance of a Committee mark-up scheduled to begin November 6 at 12:00 p.m. The bill eliminates tax-exempt private activity bonds (PABs), including both multifamily and single-family Housing Bonds, for bonds issued after 2017. In addition to eliminating tax-exempt PABs, the bill repeals the related Mortgage Credit Certificate (MCC) program. The Municipal Bonds for America organization, of which NCSHA is a member, sent Congress a letter opposing the elimination of tax-exempt PABs.