Far West

WASHINGTON —The Senate is expected Tuesday to vote on a tax compromise measure without amendments, including one by Sen. Ron Wyden, D-Ore., that would have extended the Build America Bond program through 2011 with a 32% subsidy payment.

ALAMEDA, Calif. — Changes to the federal estate tax could leave California holding the bag, Moody’s Investors Service said Monday.

The Internal Revenue Service is auditing $117.45 million of variable-rate demand utilities system subordinate-lien refunding revenue bonds that were issued in 2004 by Colorado Springs, Colo., for Colorado Springs Utilities to refund some 1994 bonds.

State and local budget challenges will put pressure on municipal credits and will drag overall economic growth next year, according to the Securities Industry and Financial Markets Association’s semiannual economic projections released Monday.

SAN FRANCISCO — A judge here ruled Friday California can proceed with a $2.3 billion sale and leaseback of 11 government-owned office buildings.

WASHINGTON — Federal transportation officials Thursday reclaimed $1.195 billion of high-speed and intercity passenger rail grants from Ohio and Wisconsin. The funds will be parceled out to several states, the U.S. Department of Transportation said after warning last month that incoming Republican governors in the two states must use the funds for rail or lose them entirely.

WASHINGTON — The Justice Department on Thursday filed a six-count indictment against three former UBS bankers — Peter Ghavami, Gary Heinz and Michael Welty — for participating in fraud schemes and conspiracies in connection with the bidding of investment and other contracts for municipal bonds from as early as 2001 until 2006.

WASHINGTON — The Commodity Futures Trading Commission Thursday unanimously agreed to propose pay-to-play restrictions and other business-conduct standards for swap dealers and major swap participants working with “special entities” such as states and localities. The pay-to-play restrictions mirror new Securities and Exchange Commission rules for investment advisers.

WASHINGTON — The $1.2 trillion continuing resolution the House approved Wednesday to keep federal agencies and programs funded through the end of the fiscal year on Sept. 30 would increase funding for financial regulators and extend transportation and aviation funding as well as nuclear loan guarantees.

SAN FRANCISCO — Nestled in the Redwood-studded hills north of San Francisco, Marin County has been home to the likes of Brad Pitt and Jerry Garcia.