I hold a substantial amount of Columbia Minnesota Tax-Exempt Fund (IMNTX)
Today I received an email which included a link to an article from December 7th 2017
Here's the part that made me take notice.
This is where tax reform comes in. Specifically, itís the debate about private activity bonds (PABs) thatís weighing on munis now.
PABs are a special form of municipal bond in which a municipality issues a bond, then lets a private company use those funds to build something that benefits the public, like a hospital or new power lines.
Right now, PABs have tax-free status, but that status may disappear as soon as New Yearís. Thatís because the tax plan passed by the House of Representatives cuts it, while the Senate plan keeps it. The two sides are battling it out right now.
I'm far from a Muni expert, so I'm hoping someone here might know more.
FYI: I just called Columbia, & the rep I talked would only say that they haven't heard anything yet.