West Virginia cities continue to seek assistance from State and Federal authorities in the fight against COVID-19. Additional legislative and regulatory initiatives to provide economic stimulus and fiscal relief as a result of the economic impact of the pandemic are being pursued. Among them are proposals to allow state and local government access to much-needed capital now.
Proposals to stimulate the economy and provide access to the market for state and local government coping with high borrowing costs and uncertain revenue streams, also include to reinstate ARRA and other expired Code provisions that facilitated market access for state and local governments during the last financial crisis, such as Build America Bonds with a direct pay subsidy and tax credit bond programs with direct pay subsidy allowing issuers to efficiently enter the taxable market with a federal revenue stream and effective lower borrowing cost.
If your West Virginia city, town or village wants more information about these developments, please contact us.