Rep. Randy Hultgren (R-IL) is renewing a push to have House leadership protect the tax-exempt status of private-activity bonds as part of tax-reform efforts. Earlier this year, a bipartisan group of 150 House members, including Hultgren, who co-chairs the Congressional Municipal Finance Caucus, expressed support for the tax-exempt bonds. “As Congress considers tax reform and infrastructure financing, we, the undersigned, write to express our strong support for a potent tool already in hand – the tax-exempt municipal bond,” said the March 8 letter. “For more than a century, states and local governments have depended on this reliable and efficient means of financing.” The Tax Cuts and Jobs Act (H.R. 1), which is being marked up this week in the House Ways and Means Committee, contains a provision that would eliminate the tax-exemption for private-activity bonds, including qualified 501(c)(3) hospital bonds. The bonds help not-for-profit hospitals and health systems access low-cost capital, enabling them to keep infrastructure expenditures low. AHA opposes eliminating the tax-exempt status of private-activity bonds.

Related News Articles

Perspective
Public
All of America’s hospitals and health systems, regardless of ownership status, size or location, provide a vast range of benefits, programs and essential…
Headline
The House Ways and Means Oversight Subcommittee today hosted a hearing on tax-exempt hospitals. The AHA submitted a statement for the hearing, highlighting the…
Headline
An AHA analysis released Sept. 10 highlights how tax-exempt hospitals provided nearly $150 billion in total benefits to their communities in 2022, the most…
Headline
The AHA April 16 responded to the Lown Institute's latest report on hospital community benefits.In a statement shared with media, AHA President and CEO Rick…
Headline
The AHA and Catholic Health Association of the United States today released a report on the value of benefits nonprofit hospitals and health systems provide…
Chairperson's File
Hospitals and health systems build effective community partnerships by aligning with and addressing community health priorities and authentically engaging…