Addressing SILO Act of 2021

Addressing Social Isolation and Loneliness in Older Adults Act of 2021 or the Addressing SILO Act of 2021

This bill provides funding through FY2025 for grants to prevent and address social isolation or loneliness among older adults and individuals with disabilities through education, outreach, and interventions. The Department of Health and Human Services must award these grants to area agencies on aging and community-based organizations.

Bill 117 hr 5005, also known as the Addressing SILO Act of 2021, aims to address the issue of State and Local Government Leasing and Financing Arrangements, commonly referred to as SILOs. These arrangements involve state and local governments leasing out public infrastructure assets, such as highways or water treatment facilities, to private entities in exchange for upfront payments.

The bill seeks to prevent these arrangements from being used as tax shelters by closing loopholes that allow for tax deductions on the lease payments. It also aims to ensure that state and local governments are not unfairly benefiting from these transactions at the expense of federal tax revenue.

Additionally, the Addressing SILO Act of 2021 includes provisions to increase transparency and reporting requirements for these leasing arrangements. This will help to ensure that the public and federal government have a better understanding of the financial implications and risks associated with these transactions. Overall, the bill is designed to protect federal tax revenue, prevent abuse of public infrastructure assets, and promote greater accountability and transparency in State and Local Government Leasing and Financing Arrangements.