Headlines for April 4, 2012
The IRS has launched a compliance practice research team that will seek to identify red-flags indicating questionable muni bond transactions.
The Metropolitan Pier and Exposition Authority of Illinois has selected a finance team as it gears up to enter the market with a big refunding to take advantage of a favorable market.
The Illinois Coalition to Protect the Public Commons, a group that opposes public asset privatization, last week announced its concerns over Chicago Mayor Rahm Emanuels proposal to establish an infrastructure trust bank that would leverage private investment in public projects.
Moodys Investors Service has signaled that the junk-level rating on MJH Education Assistance Illinois IV LLCs student housing revenue bonds for the Fullerton Village Project has stabilized by revising the outlook to stable from negative on the senior-lien bonds.
A group of seven Illinois safety-net hospitals last week unveiled several measures they said could trim $1.4 billion from the states Medicaid expenses and eliminate the need for the deeper cuts that Gov. Pat Quinn has requested.
As Detroit and Michigan officials work against the clock to come to an agreement to stabilize the citys finances, Rep. Hansen Clarke, D-Mich., introduced a bill that would secure up to $500 million in federal funding for the city.
Fitch Ratings this week affirmed Romulus BBB-plus rating and revised its outlook to stable from negative, citing the citys improving financial operations.
A financial emergency exists in Muskegon Heights Schools, said an eight-member, state-appointed team that has reviewed the districts finances.
Ohio Gov. John Kasich Monday signed into law a $1.74 billion, two-year capital bill, the states first new capital budget since 2009.
New York Comptroller Thomas DiNapoli on Monday announced the state's tentative bond calendar for the second quarter that totals $3.8 billion in new issuance, including the New York City Transitional Finance Authority's $900 million bond sale next week.
LOS ANGELES The Los Angeles Department of Water and Power is going to restart the public hearing process on rate increases proposed last year to pay for a five-year, $6.1 billion capital plan the agency says it needs to replace aging infrastructure and meet state and federal environmental mandates.
DALLAS Dallas would issue up to $25.5 million of 10-year certificates of obligation to upgrade the city-owned Cotton Bowl stadium under a plan outlined Monday to the City Council's budget and finance committee.
DALLAS Arizona State University will use $230 million of revenue bond proceeds for a variety of projects at its Tempe and satellite campuses.
New rules went into effect Tuesday to make the $65 billion credit-default swap market for municipal bonds less risky and more efficient for investors.
Traders in the tax-exempt market said the tone felt firmer Tuesday as many deals were priced ahead of schedule to take advantage of demand.
The IRS has launched a compliance practice research team that will seek to identify red-flags indicating questionable muni bond transactions.Multimedia
"One of these things does not belong" is a catchy slogan and it comes to mind when looking at the latest tax policy ideas coming from Washington when looking at the municipal bond tax exemption. The exemption is not a result of the growth of a tax code designed to induce or reduce certain behaviors. Rather, it is the foundation for the flow of capital in a $3.7 trillion dollar market required to efficiently finance the nation's infrastructure.
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