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The Obama administration’s proposal to renew the Build America Bond program may suffer from the same problem it had the first time around, when the federal government didn’t think municipalities would use BABs that much.
February 15 -
WASHINGTON — The chairman of the House Judiciary Committee said on Monday that while he remains open to exploring how Congress may play a role in restoring fiscal sanity to state and local government budgets, he does not believe Washington should dictate public pension standards or allow states to seek bankruptcy protection.
February 14 - Washington
WASHINGTON — The $3.7 trillion fiscal 2012 budget proposed by President Obama Monday would permanently reinstate an expanded Build America Bond program but at a lower 28% subsidy rate.
February 14
- Washington
WASHINGTON — The Municipal Securities Rulemaking Board issued a draft rule Monday that would spell out how muni advisers will be expected to comply with new fiduciary-duty obligations imposed on them by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
February 14 -
SAN FRANCISCO — Los Angeles Mayor Antonio Villaraigosa’s plan to lease city garages to private investors to raise money that would close a year-end budget hole and defease bonds is on the rocks.
February 14 - Hawaii
ALAMEDA, Calif. — Hawaii’s new finance director plans to review the way the state picks bond underwriters.
February 14 -
WASHINGTON — As a House Judiciary Committee panel meets Monday to hold a hearing on public pensions and the need for state bankruptcy protection, pension and muni bond experts are opposing a recently introduced bill that would prohibit them from issuing tax-exempt bonds unless they subject their pension plans to federal oversight and regulation.
February 11 - California
SAN FRANCISCO — San Diego has shifted $215 million of future debt payments for its ballpark to its redevelopment agency in an effort to skirt the governor’s proposal to help fix a budget crisis by closing RDAs.
February 11 - California
California Controller John Chiang Tuesday unveiled a package of bills he is sponsoring to provide greater financial oversight of and assistance to cities, counties, and special districts.
February 10 - Oregon
SAN FRANCISCO — Oregon Gov. John Kitzhaber is banging the drum for a program to boost energy efficiency in schools, possibly paid for with bonds backed by the cost savings.
February 10
