Naomi Jagoda

The Internal Revenue Service should withdraw or alter a controversial 2013 memorandum relating to the definition a political subdivision, provide interim guidance, and propose new rules that apply prospectively, the tax-exempt financing committee of American Bar Association's taxation section said.

Rep. Tom Reed, R-N.Y., has reintroduced legislation that would increase the annual issuance limit for issuers of bank-qualified bonds to $30 million from $10 million.

Sens. Ron Wyden, D-Ore. and John Hoeven, R-N.D., on Monday introduced legislation that would create Move America Bonds, which would generally be treated as exempt-facility, private-activity bonds but would have fewer restrictions and separate state volume caps that could be converted into tax credit allocations.

Antonio “Tony” Martini, the president of the National Association of Bond Lawyers, joined Hinckley, Allen & Snyder LLP on Friday as a partner in the firm’s Boston office.

House Ways and Means Chairman Paul Ryan is working on a "limited tax reform" package that could contain revenue for the Highway Trust Fund and extenders and that could be passed this summer.

Dozens of municipal market groups made the case for preserving tax-exempt bond financing and/or easing certain bond restrictions in documents submitted to the Senate Finance Committee’s tax-reform working groups.

An Internal Revenue Service memorandum that would render a community development district's bonds taxable should not be retroactive because a House committee last year urged guidance on political subdivisions be prospective, the CDD's lawyer said.

Rep. Rep. Bill Pascrell, who keeps a Lucite encased drinking water pipe in his office as a reminder of the "very serious and urgent" need, has continued to press for his Sustainable Water Infrastructure Investment Act.

Rep. Dan Lipinski, D-Ill., has introduced a bill that would create more flexible standards under which research arrangements at tax-exempt bond-financed research facilities would not give rise to private-business use.

House Ways and Means Committee member Rep. John Larson considers municipal bonds to be “the lifeline of any given community.”

An authority can have additional time to spend proceeds of its qualified zone academy bonds after there were “unforeseen circumstances” such as contractor disputes, permitting delays and development plan changes, the Internal Revenue Service has ruled.

Curbs to the tax exemption for municipal bonds would increase electricity prices for public-power customers and make it less likely that infrastructure improvements would be funded, groups warned in a paper to Senate Finance Committee tax-reform working groups.

The House on Thursday passed a bill to make the state and local sales tax deduction permanent.

Reps. Randy Hultgren, R-Ill. and Dutch Ruppersberger, D-Md., have sent a bipartisan letter to House leaders urging them to reject proposals that make changes to the tax exemption for municipal bonds.

Lawmakers on Senate Finance Committee tax-reform working groups should preserve the tax-exemption for municipal bonds and increase the bank-qualified bond limit, the Bond Dealers of America and affiliated coalitions said.

Tax reform proposals to curb tax exemption for municipal securities would create uncertainty in the market, possibly lead to higher borrowing costs, and hurt infrastructure development, issuer and borrower groups warned a Senate Finance Committee working group this week.

The federal government ran a $52.9 billion budget deficit in March, the Treasury Department reported Monday.

The National Association of Bond Lawyers would like to see several items on the Treasury Department’s and Internal Revenue Service’s 2015-2016 guidance plan, including guidance on reissuance, management contracts and issue price.

U.S. cities have significant long-term liabilities other than pensions that warrant attention, Merritt Research Services president and chief executive officer Richard Ciccarone argues in a report.

The Internal Revenue Service has granted a school district that experienced "financial distress" a roughly 16-month extension to spend the proceeds of its qualified school construction bonds.