Bipartisan Bill Could Boost Financing for Cooperatives
Posted on Mar 7, 2019 in Financing, Legislative & Politics | Comments Off on Bipartisan Bill Could Boost Financing for Cooperatives
The National Rural Electric Cooperative Association is working with a bipartisan group of lawmakers in Congress to pass legislation that would give electric cooperatives access to more money to modernize their plants and reduce costs for consumer-members. The proposed Improving Rural Access to Power Act would allow the Federal Home Loan Bank to voluntarily buy securities issued by a qualified cooperative lending association. The bill’s supporters have been trying to pass a similar measure since 2016, but their previous efforts stalled in the House.
