Congresswoman Sewell Introduces Bill Championing Public Finance
On April 15, Alabama Representative Terri Sewell introduced legislation containing multiple tax provisions strengthening public finance resources. The former bond lawyer has been a steadfast ally in Congress for public finance advocates, having introduced the Municipal Bond Market Support Act of 2019 during the previous session of Congress, a bill that expanded and modernized the limits and caps for bank qualified debt.
The Municipal Finance Act expands access to tax-exempt financing for public serving entities by once again allowing the issuance of tax-exempt, advance refunding bonds, updating caps and policy governing bank qualified debt limits and reinforcing the use of direct subsidy bonds. This important legislation and legislative text will be posted to the website as it is made available.