Conference agreement on tax reform: Private activity bonds, stadium bonds spared; Advance refundings and tax credit bonds axed

The Tax Cuts and Jobs Act (TCJA) was released on December 15, 2017. The Committee of Conference chose not to follow the House’s repeal of authorization for private activity bonds — a financing vehicle used to finance 501(c)(3) institutions, such as private universities and hospitals, as well as other projects, such as low-to-moderate income housing. Additionally, the prohibition on the use of tax exempt bonds for professional stadium financing was, likewise, not included in the TCJA, preserving that option for governmental issuers. Read more >>

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