No Tax Breaks for Sanctuary Jurisdictions
This bill aims to deny tax-exempt status for bonds issued by jurisdictions that limit cooperation with federal authorities on immigration status information. This means cities and states designated as "sanctuaries" could lose access to favorable financing terms, potentially impacting their budgets and ability to fund public projects, which might affect services for residents.
Key points
Cities and states that do not cooperate with federal immigration enforcement will lose tax exemptions on their issued bonds.
The Treasury Department will publish a list of jurisdictions identified as "sanctuaries" to implement these new rules.
These changes could increase the cost of public projects in affected jurisdictions, potentially impacting residents indirectly.
Introduced
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