Far West

WASHINGTON — A new study released this week by the Government Accountability Office shows that nearly all states have gotten back at least as much money as they contributed to the federal highway trust fund — a revelation that contradicts some lawmakers’ claims that certain states are subsidizing others’ highway and bridge costs under the current system.

WASHINGTON — The Municipal Securities Rulemaking Board Wednesday filed ­changes with the Securities and Exchange Commission on a ­controversial proposal that would dictate the priority of retail and other customer orders in primary offerings, as well as dealers’ related record-keeping responsibilities.

The Senate is poised to pass legislation that would extend and phase out enhanced federal Medicaid payments to states for six months through June 30, 2011, as well as provide $10 billion to local school districts to prevent an estimated 140,000 educators from being laid off.

WASHINGTON — Private-activity bond issuance lagged in 2009 for the second year in a row, despite efforts by Congress to make the bonds more attractive, as the recession continued to take a toll on this part of the municipal market, according to an annual survey and market participants.

ALAMEDA, Calif. — Former California Debt and Investment Advisory Commission staffer Mark Campbell has returned to take the reins as executive director of the state clearinghouse for debt-issuance information.

ALAMEDA, Calif. — San Diego Mayor Jerry Sanders has pulled the plug on one of his pet projects.

Moody’s Investors Service is seeking commentary as it considers updating its rating methodology for municipal debt that is backed by letters of credit.

State and local government spending increased in the second quarter of 2010 for the first time in a year as municipalities splurged on capital improvements, but economists cautioned that the growth is unlikely to continue in the second half.

Recently introduced legislation extending several temporary bond provisions is not expected to be voted on by the House until September at the earliest, despite attempts from Democratic leaders to move quickly on the measure.

WASHINGTON — Twenty-four municipal market groups have signed a letter praising House Ways and Means Committee chairman Sander Levin for introducing legislation to extend several temporary muni bond provisions, and calling for continued support of municipal issuers during tough economic times.