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Ohio School District Says It Can Redeem $12.87 Million of BABs
The Berea City School District in Ohio said that it can redeem $12.87 million of series 2009B certificates of participation designated as Build America Bonds because its subsidy payments were reduced due to sequestration.
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Standard & Poor's said in a report released Wednesday that it is closely watching states' fiscal 2015 budgets for signs of over-spending or large tax cuts. more »
A bill introduced in the House earlier this month would renew empowerment zone and renewal community designations, allowing certain areas to be eligible again for tax incentives including empowerment zone facility bonds and qualified zone academy bonds. more »
A bill introduced in the Senate that would provide tax relief for major disaster areas designated as such in 2012 and 2013 has several bond provisions, including one that would allow state and local governments to issue qualified disaster area recovery bonds. more »
The Joint Committee on Taxation this week released its estimates of the budget effects of the revenue proposals in President Obama's fiscal 2015 budget, including those related to municipal bonds. more »
The Lexington-Fayette Urban County Government in Kentucky expects to competitively sell about $61.71 million of bonds on April 22 in order to redeem $60.47 million of Build America Bonds that it issued in 2010, an issuer official said. more »
Total private-activity bond issuance for the five years from 2007 through 2011 was $273.35 billion, with bonds for hospitals, colleges and other nonprofits that meet certain criteria making up more than half of that amount, a tax committee staffer told Rep. Sandy Levin, D-Mich. more »
Leaders on the Senate Environment and Public Works committee said they reached an agreement on principles for a surface transportation reauthorization bill and suggested funding could be raised through tax reform. more »
The Build America Bond program would be permanently revived with lower subsidy rates and without issuers being hurt by sequestration cuts, under a bill recently introduced in the Senate. more »
The Senate Finance Committee Thursday passed a bill that extends a number of expired and expiring tax provisions, including some related to bonds, state and local governments, and Puerto Rico. more »
Municipal market participants should be concerned about the House Republican fiscal 2015 budget plan unveiled by Rep. Paul Ryan on Tuesday because it calls for substantially lowering the individual and corporate tax rates, which would put at risk many tax expenditures such as the tax exemption for municipal bonds, several muni experts said. more »
Senate Finance Committee chairman Ron Wyden has proposed a bill to extend roughly 47 expired and expiring tax provisions, including four relating to bonds, governments, and Puerto Rico. Sens. Wyden and Orrin Hatch, the top Republican on the committee, have scheduled a vote on the proposed extender legislation for Thursday. more »
House Ways and Means Committee Chairman Dave Camp announced Monday that he will not seek re-election to the House in November. more »
The National Association of Local Housing Finance Authorities has told House Ways and Means Committee Chairman Dave Camp in a letter that it opposes the provisions in his tax-reform plan that eliminate tools used to finance affordable homeownership and rental housing. more »
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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