Washington

WASHINGTON – The Municipal Securities Rulemaking Board has decided to propose an explicit best execution rule for dealers in the municipal market, MSRB officials said Tuesday, calling it "a very significant development for the municipal market."

Washington state representative Hans Zeiger has introduced a bipartisan proposal to pilot social impact bonds in the state starting in 2016.

The growth of shipping fleets is outstripping demand, leading Moody's Investors Service analysts to slap a negative outlook on U.S. ports for the next 18 months.

Dealer groups told issuer officials Jan. 30 that they have many unanswered questions under the Securities and Exchange Commission's registration rule, as broker-dealers work to keep municipalities informed about their efforts to comply with the rule before its July 1 effective date.

The thousands of airline flights cancelled this winter due to severe weather may affect some airports' revenues and cost budgets, Fitch Ratings said.

Oregon Gov. John Kitzhaber says the state legislature must take action next month to move forward with the Columbia River bridge replacement project or it will die in March.

Sentencing for convicted bid-rigger David Rubin has been pushed back until March 6 because his attorney will not be able to be present during the previously scheduled Feb. 3 date.

A bipartisan agreement on a farm bill includes a one-year extension of funding for the federal payments in lieu of taxes program through fiscal 2014.

Proposed federal legislation would revive state infrastructure banks as a funding option for local transportation projects.

Municipal bankruptcy expert James Spiotto is proposing the idea of public pension authorities to resolve pension issues.

Moody's Investors Service has placed 256 local government general obligation ratings on review, some for upgrade and some for downgrade, after updating the methodology it uses to evaluate those bonds.

The State of Washington is planning to sell $717 million of general obligation bonds in a three-part competitive offering next week.

Dealer groups are warning the MSRB that a proposal to require an hour of annual muni training for their staffs could actually result in less efficient training and could be confusing, in addition to raising compliance burdens.

Oregon Treasurer Ted Wheeler said he won't approve the issuance of over $1.5 billion bonds for the Columbia River Crossing project until there is more certainty on toll collections.

Washington State University is planning to sell $60 million of revenue bonds later this month to fund improvements throughout its campus.

President Obama's top economic advisor urges Congress to enter into a "grand bargain on jobs" in exchange for national infrastructure bank.

The Municipal Securities Rulemaking Board is seeking applications to fill seven spots that become available Oct. 1.

The Financial Industry Regulatory Authority has identified the suitability of the bonds of distressed municipalities for investors, as well as municipal advisor activity, as areas it will focus on in 2014.

Jefferson County, Ala., is out of municipal bankruptcy but appeals of the bankruptcy plan and criminal prosecutions will keep the county in the spotlight.

Rebecca Harrigal, the new director of the Internal Revenue Service's tax-exempt bond office, said one of her goals is to streamline and improve the closing agreement or settlement process.