Lynn Hume

The decision impacts $1.26 billion of economic development revenue and refunding bonds issued by the company, which said it is considering its response to the IRS.

Former U.S. Transportation Secretary Ray LaHood an 116 groups call for a bipartisan, multi-level governmental approach to infrastructure that includes municipal bonds.

The Board said "filtering" bids and offers can hurt retail investors, liquidity, and market efficiency.

President Trump's long-awaited infrastructure plan is due out in January, but some muni market participants worry any legislation seeking federal funding might cut PABs for revenue.

A three judge panel of the appeals court said a supplemental environmental impact statement does not need to be written to analyze the impact of Metrorail's problems on the $5.6B Purple LIne P3 project.

Market experts see less municipal bond volume next year, far fewer bank loans, new buyers of bonds, and more volatility if the tax bill is enacted as expected.

The future accessibility of private activity bonds and stadium bonds is the massive tax bill's gift to the municipal market this holiday season. However, the bill also brings coal in the form of a year-end halt to advance refundings and a drop in the corporate tax rate.

Republicans, however, are still negotiating the PAB provisions and have been considering eliminating the ability of issuers to carry forward for up to three years any of their unused allocations of PABs, as well as scrapping some smaller categories.

Muni issuers are being forced to take action on tax-exempt private activity draw-down bonds and commercial paper because of the House tax bill.

Bank loan documents often have corporate tax gross-up provisions.

Banks often demand key terms of private placement documents be redacted when issuers want to disclose them and questions of materiality arise.

The Senate’s vote to approve its tax bill means advance refundings are all but dead. The future of private-activity bonds hangs in the balance as the differences with the House’s version are resolved.

Muni issuers rushing to get advance refundings done in December before Congress passes a tax bill that terminates them may face a halt in sales of state and local government securities because of the debt limit.

A tribal government specialist has replaced Allyson Belsome as head of the group responsible for muni bond audits.

With roughly two weeks to negotiate a final tax bill, using the amendments would avoid a formal conference and could save private activity bonds.

Halting tax-exempt advance refundings at the end of the year, as proposed by both pending tax bills, would increase issuers’ costs, deprive them of savings for new projects, and push some to enter into swaps that could increase their risk.

Even though tax bills would have a PAYGO problem, Republicans may have the upper hand.

It may take 60 votes in the Senate to decide if the tax bill is subject to the PAYGO Act.

If Congress passes the pending tax bills, BABs and more than $85B of mandatory federal programs would be jeopardized.

The SEC's Office of Compliance Inspections and Examinations found municipal advisors had trouble meeting registration, books and records and supervisory requirements.