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Committee hears bill to raise MFFA bonding cap, sponsor urges ‘due pass’
Summary
A hearing on Senate Bill 104 focused on raising the statutory cap on the state’s conduit bonding authority (MFFA) to allow larger and more frequent bond issuances; sponsor and the facility finance authority said the program is self‑supporting and can generate modest general fund revenue via a statutory fee.
Representative Schomer, sponsor of Senate Bill 104, told the Appropriations Committee that the bill would raise the statutory cap on the facility finance authority’s conduit bond program to allow larger projects and more issuances. “This bill increases the revenues for MFFA which can cover any increases in costs and creates revenue for the general fund,” Schomer said.
The hearing featured testimony from Adam Gill, representing the facility finance authority (MFFA). Gill described the authority as a conduit that connects borrowers with lenders and said expanding the cap would let the authority facilitate larger projects for hospitals, schools, museums, businesses and certain large private projects. “By giving us that room, it…
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