Far West

Municipal market groups are ready to band together in 2016 to show the Securities and Exchange Commission that they can improve disclosure practices without increased regulation, even as the commission is set to continue publishing settlements with underwriters and issuers who have failed to comply with their continuing disclosure obligations.

Orange County, Calif. received a rating boost, as Standard & Poor's upgraded its issuer credit rating one notch to AA-plus from AA.

Desert Hot Springs, Calif., a Palm Springs suburb that has flirted with bankruptcy, received an improved stable outlook from Standard & Poor’s.

Hawaii Gov. David Ige's $13 billion supplemental budget proposes increasing general obligation bond issuance by $891.8 million in fiscal 2017 to support $1.8 billion in capital projects.

Congress will not act on comprehensive tax reform next year, but House Republicans could try to move forward with international or corporate tax reform, according to tax experts.

The San Bernardino City Council appointed two interim city managers to serve consecutively as the city works to extract itself from bankruptcy.

"Our biggest issue is the issue price rules," Michael Decker, a managing director and co-head of municipal securities for the Securities Industry and Financial Markets Association, said when asked about the tax arena.

California Treasurer John Chiang said he plans to meet investors around the country as he prepares to ratchet up the state's green bond issuance.

The biggest tax regulatory issue for municipal market participants in 2016 are the issue price rules and what changes the Treasury Department and Internal Revenue Service will make as they finalize them, dealer and issuer group representatives said in interviews about the coming year.

Washington State Treasurer James McIntire surprised insiders with his decision to not seek re-election after two terms in a position that includes oversight of state bond sales.