Far West

California, traditionally the largest issuer of municipal bonds in the country, is set to constrain its bond sales for another year, tightening supply to one of the hungriest markets of all time.

The Financial Industry Regulatory Authority highlighted "key risk areas" for muni broker-dealers, warning that its exams will focus on whether incomplete disclosures and financial information from an issuer prevent retail customers from making informed investment decisions.

A group of Democrats and an independent lawmaker in the Senate have introduced a bill that would codify the so-called Buffet Rule by imposing a minimum 30% tax rate on taxpayers whose adjusted gross income exceeds $1 million, including capital gains and dividends.

Washington saved 14% during a $978 million refunding bond sale on Tuesday — the largest refunding in the state’s history. The state treasurer’s office said it achieved more than $154 million in present-value savings from the debt refunding.

For the most part, economic indicators show that Nevada, one of the state’s hit hardest by the wave of home foreclosures in recent years, has been pulling itself out of the muck.

RED, the developer of the Outlets at Legends in Sparks, Nev., has defaulted on $141 million in private loans used to construct most of the 148-acre retail development, according to published reports.

In anticipation of a $5.3 billion rail project coming in under budget, Honolulu transit authority officials are contemplating adding additional features to the system like a fare gate system, according to published reports.

A bill that would allow municipalities in California to keep affordable housing funds collected by their redevelopment agencies, which were shut down Wednesday, cleared the state Senate.

For a second year, Georgia is poised to eclipse Florida in authorizing new-money bonds in their state budgets.

WASHINGTON — Rep. Tim Huelskamp, R-Kan., has introduced legislation that would repeal the individual alternative minimum tax, potentially lowering the borrowing cost and improving the marketability of private-activity bonds.