Far West

WASHINGTON — Voluntary contributions from states and localities, one of two key revenue streams for the Governmental Accounting Standards Board, have dropped precipitously in recent years as localities cut back on funds.

WASHINGTON — The House Ways and Means Committee will hold the first of a series of hearings on tax reform on Thursday.

SAN FRANCISCO — California’s Sutter Health will sell $900 million of tax-exempt revenue bonds this month in the health care provider’s first trip to market in two years.

ALAMEDA, Calif. — The battle over the future of redevelopment may be one of the most polarizing issues in what could be a landmark year in California’s long-running budget drama.

WASHINGTON — The Municipal Securities Rulemaking Board is expected early Friday to propose extensive pay-to-play restrictions for municipal advisers, the first significant rulemaking proposal for advisers since the MSRB began to oversee them on Oct. 1.

WASHINGTON — The Securities and Exchange Commission will hurt state and local entities if it adopts rules requiring their appointed board members to register with the SEC and possibly the Municipal Securities Rulemaking Board, market participants are warning.

SAN FRANCISCO — Oakland’s city attorney has taken a public stand against a plan by the city to sell bonds so it can continue to skip making payments toward growing public-safety pension liabilities.

The American Bar Association’s tax group is urging the Treasury Department and Internal Revenue Service to publish guidance confirming that bond counsels’ long-standing practices for bonds issued to finance grants comply with tax law requirements.

The American Public Power Association and two other groups are urging Obama administration officials to authorize more funds for clean renewable energy bonds, which can be issued as direct-pay as well as tax-credit bonds.

SACRAMENTO — California Gov. Jerry Brown announced Monday what he described as a draconian budget proposal to bridge a $28 billion deficit.