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: TwoRx :NL \ \. S • . -'.1.. . .f„.,, .. -`--H, ,7:.: State and Local Officials Working to Preserve Tax-Exempt Financing November 19S Public Finance Network Unfunded Mandates Will Cost Local Members Governments Nearly $90 Billion Airports Association Council International American Association of Port Authorities American Association of School Administrators nfunaed mandates will cost local they have to pay for horces of American Association of Slate Colleges and governments nearly$90 billion accountants, lawyers and rebate Universities • American Planning Association over the next five years, consultants to perform ad the American Public Gas Association according to two studies conducted by recordkeeping and other requirements.' American Public Power Association American Public Transit Association Price Waterhouse. The findings of the stLdies vie American Public Works Association American Society for Public Administration Cities will pay about$6.5 billion this released Oct. 26, one da, prior NUM nextDay—Nationald Association of Local Housing Finance Agencies year and$54 billion over the five Association of Metropolitan Sewerage Agencies UnfundedMang;!es Association of Metropolitan Water Agencies years, while counties wil! incur costs Day. The public observaccce of f;llivi Da Associanon of School Business Officials totaling $4.8 billion this year and $33.7 '„gas declared byseven sae and :_OCE; International Councilct Development Finance Agencies billion over the next five years. government groups to cad atter,!:C.r, tC Council of infrastructure Financing Authorities Cities reported that federal mandates the burden of unfunded mandate_. 0 Council of Slate Community Development - Agenc:es consume an average of 11.7% of locally Sponsors of NUM Day ere the _.cunt Council of slate Governments - raised funds; for counties that figure is of State Governments, Imernatic-El Ci;_', Education Finance Council g Government Finance Officers Association • 12.3%. County Management Ass sciatic-. International Bridge,Tunnel&Turnpike Association Arbitrage rebate requirements National Association of Counties. International City/County Management Association imposed by the Tax Reform Act of 1986 National Conference of S:ate International institute of Municipal clerks Municipal Treasurers'Association are among the costly unfunded Legislatures, National Governors National Association of Counties mandates examined by the National Association, National League of Oities National Association of Development Organizations Association of Counties. The arbitrage ane the U.S. Conference of Mayc•s. National Association of Elementary School • provisions require state and local In observance of NUM Day, Presider, Principals National Association of Higher Educational governments to turn over to the federal Clinton signed an executive of de' Oct. Facilities Authorities Naffonel kssocation of Housin &Redevelopment government any Interest earnings on e6 dlfeCttn tEae(al OfrtOi iS i0 C-iSui' Officials tax-exempt bond proceeds that are with local officials before :ssuinc .. National`.sseciation of Indcpendcnl Colleges and Universities realized while construction of a project unfunded mandates. National Association of Regional Councils is under way. This requirement will cost The group's efforts are supposed b: National Association of State Auditors. Comptrollers and Treasurers the nation's counties$238 million from an 83-member House caucus op:oseO National Association of State Budget Officers ' 1994 through 1998, the Price to enactment of additionai unfunced National Association of Slate Treasurers National Association of State Universities and Waterhouse study showed. • mandates. Rep. Gary A. Condit, D-hall:. Land Grant Colleges/Association of American The Government Finance Officers co-chair of the caucus, introduced H.R. Universities National Association of Towns and Townships Association said the impact of arbitrage 140, the Federal-Mandate Relief,Lot. National Conference of State Legislatures for all bond issues would be Campanian lei t - National Council of Health Facilities Finance p g station was introducEo Authorities significantly greater once the costs to all in the Senate by Sen. Dirk Kemp_ 0r e, National Council of State Housing Agencies James P. Moran. D-Va..other bond issuers were tallied. R-Idaho. National League of Cities � Rep. National School Boards Association' "Rebating interest income to the and William F. Goodling, R-Pa., 'pave III Public Housing Authorities Directors Association U.S.Conference of Mayors federal government instead of paying for introduced a bill to require economic Water Environment Federation public facilities is an out-of-pocket impact studies before enacting expense for state and local legislation or regulations that mandate governments," GFOA said. "Additionally, action by states or localities. a