On July 17th, the BDA submitted its comment letter and policy recommendations in response to Senate Finance Chairman Orrin Hatch’s (R-UT) request for expert and stakeholder input on tax reform. You can view the BDA’s letter here. BDA’s Letter Recommends to: Do no harm to the current law status of the municipal tax-exemption Increase the…
Category: Bank Qualified Bonds
BDA supports legislation to permanently increase the bank qualified annual debt limit from $10 million to $30 million, index that amount for inflation, and apply it to individual borrowers.
Ways & Means Committee Update Rep. Neal Likely to be Top Democrat
With the Federal elections over, and the new administration taking shape, we want to keep you updated with key shifts in power happening in DC. Rep. Richard Neal (D-MA) looks increasingly likely to to become the next Ranking Member of the Ways & Means Committee in the House of Representatives. Mr. Neal has been a…
BDA Supports Rep. Tom Reed’s Bank-Qualified Bond Legislation
In his press release, Reed featured a quote from the BDA supporting his legislation: “The Bond Dealers of America organization supports this legislation and we hope to see it move forward this year. Bank-qualified bonds are a cost-effective method of financing for local governments and financing authorities, incentivizing community banks to invest in tax-exempt bonds…
The BDA Joins Coalition Letter Calling for an Extension of the $30 million Debt Limit for Bank Qualified Bonds
Leading up to a Senate Finance Committee markup of tax legislation, the BDA has joined with issuers and other groups with a letter to the Chairman and Ranking Member of the Senate Finance Committee supporting an extension of the $30 million debt limit for Bank Qualified Bonds in any tax legislation this year. To view this letter,…
Legislative Update: Congressmen Reed and Neal Introduce Bank Qualified Legislation
On Wednesday, May 9, 2012, BDA-supported legislation on bank-qualified bonds was introduced in the U.S. House of Representatives. The House legislation is jointly co-sponsored by Reps. Tom Reed (R-NY) and Richard Neal (D-MA). The House legislation mirrors legislation pending in the U.S. Senate that would permanently raise the annual volume limit for bank-qualified bonds to…
Rep. Reed Supports Bank-Qualified Bonds
The bill would mirror bipartisan legislation introduced in the Senate by Senators Bingaman (D-NM) and Crapo (R-ID) and would make permanent the bank-qualified rules that were in effect in 2009 and 2010, increasing the annual amount from $10 million to $30 million, indexing that amount and allowing pooled financing. Rep Reed made the announcement at…
U.S. Senate Approves $30M Annual Bank-Qualified Limit; House To Act Next
Today, the United States Senate approved the final version of their surface transportation funding package, which includes a provision for a short-term reinstatement of the $30 million annual volume limit for bank-qualified bonds. Under the Senate bill, the $30 million cap will be in effect for bank-qualified bonds issued from July 1, 2012 thru June…
House Democrats Introduce Bill Reinstating Expired Bond Provisions
The bill would, among other provisions, extend through the end of 2011, the 2009 provisions for Bank-Qualified Bonds. The bill would also extend Build America Bonds for 2 years with the reimbursement rate at 32 percent for 2011 and 31 percent for 2012. The bill would also provide additional allocations of Recovery Zone Bonds, exempt…
BDA announces bill to extend bond provisions
The Chairman of the House Ways and Means Committee, Sander Levin (D-MI) and the Chairman of the Senate Finance Committee, Max Baucus (D-MT) will introduce today the American Jobs and Closing Tax Loopholes Act. The bill will include a 1 year extension of the ARRA Bank-Qualified provisions, a 2 year extension of Direct Payment BABs…