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WASHINGTON — Securities and Exchange Commission chairman Mary Schapiro wants to move forward with regulations aimed at improving the stability of money-market funds, despite strong opposition from industry and state and local government groups.
May 11 -
WASHINGTON — The American Bar Association’s taxation section has sent a letter to the Internal Revenue Service and the Treasury Department urging them to update their rules and guidance on management contracts, which are important in determining that certain governmental and 501(c)(3) bonds remain tax-exempt and are not private-activity bonds.
May 11 -
WASHINGTON — Rep. G.K. Butterfield has introduced a bill that would curb the power of federal and state officials to toll interstate highways, just as tolls are increasingly seen by transportation officials as a key alternative to offsetting waning federal gas tax revenues for project funding.
May 11 -
Two members of the House Ways and Means Committee introduced bipartisan legislation that would permanently increase the bank-qualified debt limit to $30 million from $10 million and index it for inflation.
May 10
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WASHINGTON — Executives of two rail organizations that rely on municipal bonds to finance some projects told international advisory firm KPMG that getting stakeholders and policymakers to buy into and embrace a cultural shift will be key to successfully financing large fast-rail networks.
May 10 - Nevada
North Las Vegas city manager Timothy Hacker warned Monday of massive layoffs after the city’s public safety employee unions walked away from negotiations, according to the Las Vegas Review-Journal.
May 10 - Hawaii
Hawaii officials said Wednesday that continued strength in the visitor industry this year will boost economic growth at a rate that was faster than previously thought, according to the Honolulu Star Advertiser.
May 10 - California
Moody’s Investors Service on Tuesday downgraded to A3 from A2 the Sulphur Springs Union School District’s $32 million of outstanding certificates of participation, and dropped the district’s issuer rating to A1 from Aa3.
May 10 -
Moody’s Investors Service Tuesday upgraded to B1 from B3 the rating on Southern California University of Health Science’s Series 1997 bonds and also revised the outlook to positive from negative on $7.5 million of outstanding bonds.
May 10 - California
Sacramento spent $680,000 from September through April on its unsuccessful effort to build a new arena for its pro basketball team, according to the local press.
May 10
