Washington DC

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

SLGS are typically used by issuers of tax-exempt municipal bonds because of yield restrictions and arbitrage rebate requirements under the Internal Revenue Code.

An increase to $30 billion from $15 billion on the PAB allotment overseen by the Department of Transportation was one suggestion a House panel heard Thursday.

The Biden administration wants to increase IRS funding for enforcement to close the gap between taxes owed and taxes that are paid.

The Remote and Mobile Worker Relief Act would set a 30-day in-state threshold before states could levy income taxes on nonresident workers.

Passage of the bill Thursday authorizes programs to receive funding, though money would still need to be appropriated through an appropriations process or a comprehensive infrastructure bill.

Public finance groups hope that the Biden administration will show the same support for tax-exempt bonds that House Democrats do.

SEC Chair Gary Gensler's pick for enforcement director resigned just days after being announced.

The surprise move was announced Wednesday in a Securities and Exchange Commission statement.

The report found that the White House Office of Management and Budget played a key role in prodding HUD to add additional requirements for Puerto Rico to access the disaster aid.

More and more investors are becoming interested in social impact bonds, though historically Black colleges and universities are paying higher underwriting fees.

The broker exercised discretion in seven customer accounts despite Morgan Stanley no longer allowing discretionary trading.

The MSRB will retire 15 pieces of guidance, though those will still be available online for historical purposes.

There’s not much difference in the criteria S&P Global uses to rate general obligation debt issued by cities and GO debt issued by states.

The board had planned to abolish the requirement that MAs advising on competitive deals apply for CUSIP numbers, but has now decided to keep the rule as is.

The bonds would include a subsidy rate of 28% and would be exempt from sequestration.

The new director will be familiar with pay-to-play enforcement and public accounting fraud, which are important in the muni space.

Though Republicans and Democrats are far apart on the price tag, there is agreement on the need to invest in physical infrastructure and the need to pay for it.

“We know the importance of working together,” said Rep. Greg Stanton, D-Ariz., a former mayor of Phoenix.

Wyden said his clean energy bill would replace a hodgepodge of 40 temporary tax credits.