Far West

WASHINGTON — The Treasury Department Friday rejected a proposal for Fannie Mae to sell $2.6 billion, or roughly half, of its unused low-income housing tax credits to two unidentified investors believed to be Goldman, Sachs & Co. and Berkshire Hathaway Inc.

WASHINGTON — The Regional Bond Dealers Association has retained the law firm of Nixon Peabody LLP to help it develop legislative and regulatory strategies and proposals for municipal bonds and fixed-income products. The group plans to hire two lobbyists and policy analysts later this year, Mike Nicholas, RBDA’s chief executive officer said yesterday.

WASHINGTON — The Municipal Securities Rulemaking Board yesterday filed a new rule with the Securities and Exchange Commission that would allow it to collect a flat $60 “development fee” on examinations taken by municipal securities representatives and principals, as well as muni fund securities “limited principals,” to demonstrate competence in their areas of work.

WASHINGTON — The American Bar Association Section of Taxation sent a report to Treasury Department and Internal Revenue Service officials last week outlining its thoughts on various issues tied to stripping the tax credits from tax-credit bonds and selling them separately.

WASHINGTON — The United States faces an immense challenge with an economy expected to be $2 trillion smaller than what it should be over the next five years and growing unemployment that is likely to last “for at least some time,” according to Felix Rohatyn, the veteran investment banker who helped save New York City from bankruptcy in the 1970s.

DALLAS — The Transportation Infrastructure Finance and Innovation Act program is likely here to stay, though it is unclear how much funding it will receive in the future, federal officials said here yesterday.

SAN FRANCISCO — The next storm in an ongoing blizzard of California state paper comes Tuesday, when the California Statewide Communities Development Authority will price a deficit-­driven deal in the $1.5 billion range.

SAN FRANCISCO — Poseidon Resources is seeking a $530 million private-activity bond cap allocation from the California Debt Limit Allocation Committee this month in a bid to build the West Coast’s first large-scale desalination plant.

Gov. Jim Gibbons Tuesday announced one new appointment and one reappointment to the Nevada Board of Finance, which among other duties is charged with approving all state-issued debt, including bonds.

Standard & Poor’s upgraded its underlying rating on the Santa Paula Union High School District in Ventura County to AA-minus from A ahead of an $8 million general obligation sale.