Washington DC

Bank loan documents often have corporate tax gross-up provisions.

Democrats complain that Republicans are only providing cosmetic support for Puerto Rico in tax reform legislation and disaster aid.

The nation’s debt limit will likely reach its new ceiling at midnight on Friday.

Many states use PABs to offer low-rate mortgages and down payment assistance for first-time buyers.

Banks often demand key terms of private placement documents be redacted when issuers want to disclose them and questions of materiality arise.

Muni issuers want six months to a year on transition relief for advance refundings, which the tax bills would terminate after Dec. 31.

Both the House and Senate bills would end Puerto Rico’s status as an offshore tax haven.

Muni issuers rushing to get advance refundings done in December before Congress passes a tax bill that terminates them may face a halt in sales of state and local government securities because of the debt limit.

Congress should look to municipal experts to make the case for revenue triggers as a way to allay concern that tax cuts will necessitate spending reductions.

House Ways and Means Committee Chair Kevin Brady said the private-activity bond provision was included in the House tax bill so lawmakers would have more time to discuss these bonds.

California lawmakers are pushing Republican leaders to restore the federal deduction for state and local income taxes in the final tax bill.

A tribal government specialist has replaced Allyson Belsome as head of the group responsible for muni bond audits.

Sen. Collins said a partial restoration of the SALT deduction will help get her vote for tax bill.

Sen. Bernie Sanders, I-Vt., introduced a comprehensive support bill for Puerto Rico and the U.S. Virgin Islands Tuesday, calculated to cost up to $146 billion.

With roughly two weeks to negotiate a final tax bill, using the amendments would avoid a formal conference and could save private activity bonds.

More than half of the $44 billion is for disaster relief administered through FEMA and the SBA.

Halting tax-exempt advance refundings at the end of the year, as proposed by both pending tax bills, would increase issuers’ costs, deprive them of savings for new projects, and push some to enter into swaps that could increase their risk.

Republicans can only afford to lose two votes when the tax overhaul bill comes to the Senate floor.

The SEC went into its expanding toolbox to bring fraud charges against Oyster Bay, N.Y., and its former top elected official for hiding the existence and potential impact of side deals with a businessman.

Mehran Tazhibi agreed to pay a $10,000 fine and be suspended for two months.