Herb Kohl: “I'm introducing a bill today that is aimed at helping rural communities build or improve essential community facilities…”

“I'm introducing a bill today that is aimed at helping rural communities build or improve essential community facilities such as shelters, nursing homes, hospitals, medical clinics, and fire and rescue-type projects. My bill would make it possible for project sponsors to accept certain USDA loan guarantees without risking the tax exempt status that enables them to finance these initiatives. Clarification of existing tax rules, as proposed in this bill, will provide certainty for project sponsors, help lower project costs for rural communities, and help deal with a backlog of loan applications for small communities. The needs are great in many rural communities. This measure will help communities help themselves and I look forward to working with the Senate Finance Committee on this important topic.”