AMWA-NACWA Study on the Value of Tax-Exempt Municipal Bonds

In 2013, AMWA and the National Association of Clean Water Agencies (NACWA) released a report, The Impacts of Altering Tax-Exempt Municipal Bond Financing on Public Drinking Water & Wastewater Systems, to estimate the cost implications to water and wastewater systems of limiting or abolishing tax-exempt municipal bonds. The report found that more than $39 billion worth of state and local tax-exempt debt was issued in 2012 to finance water and sewer projects. If municipal bonds had been fully taxable that year, the report says, municipalities' water and wastewater financing costs would have increased by roughly $9 billion.