[Congressional Record Volume 153, Number 63 (Thursday, April 19, 2007)]
[Extensions of Remarks]
[Page E794]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 INTRODUCTION OF THE TAX EXEMPT QUALIFICATION FOR FEDERALLY GUARANTEED 
    WATER, WASTEWATER, AND OTHER ESSENTIAL COMMUNITY FACILITY LOANS

                                 ______
                                 

                             HON. RON LEWIS

                              of kentucky

                    in the house of representatives

                        Thursday, April 19, 2007

  Mr. LEWIS of Kentucky. Madam Speaker, I rise to inform my colleagues 
of legislation I have introduced today to assist some of our Nation's 
most underserved communities in funding essential infrastructure.
  The legislation that I have proposed will permit interest on 
federally guaranteed water, wastewater, and other essential community 
facility loans to also qualify to be tax exempt. I introduced similar 
legislation in the 109th Congresses.
  Rural communities throughout America continue to face challenges in 
accessing basic needs. We can improve this situation by supporting the 
development of necessary infrastructure such as dependable water and 
wastewater systems, and essential community facilities like schools, 
hospitals, and police and fire stations.
  Unfortunately, many of these same communities struggle to acquire 
sufficient funding to support local development projects. Increased 
access to federally guaranteed tax exempt loans would provide 
significant assistance in these efforts.
  I believe the incentives offered in this bill will allow small and 
rural communities better opportunities to receive increased credit to 
finance community facility projects.
  I urge my colleagues to consider supporting this bill.

                          ____________________