BDA Statement on HBCU Financing

BDA today filed a written statement with the House Financial Services Committee Subcommittee on Oversight and Investigations in the context of their hearing this afternoon on “Examining the Role of Municipal Bond Markets in Advancing – and Undermining – Economic, Racial and Social Justice.”

We focus our statement on financing for Historically Black Colleges and Universities (HBCUs). We cite the capital needs faced by HBCUs and impediments some HBCUs have experienced in accessing the public market. We suggest several policy solutions, including direct-pay bonds, expanding bank-qualified bonds, restoring advance refundings, providing “triple tax-exempt” status for HBCU bonds, providing a federal guarantee for HBCU bonds, and promoting ESG standards that would benefit HBCUs.

The hearing begins at noon eastern today and is viewable on the Committee’s Web site.

Please call or write with any questions.

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