Washington

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.

The Securities and Exchange Commission's enforcement division will be very active in the muni space in 2014, experts said, with emphasis on actions against municipal officials and underwriters.

The Securities and Exchange Commission's enforcement division will be very active in the muni space in 2014, experts said, with emphasis on actions against municipal officials and underwriters.

Municipal bond market participants, on guard against proposals to limit or eliminate the tax exemption, doubt 2014 will bring comprehensive tax reform.

Municipal bond market participants, on guard against proposals to limit or eliminate the tax exemption, doubt 2014 will bring comprehensive tax reform.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.

State budgets seem to be "stabilizing and settling into a period of modest growth," but recovery from the Great Recession is still "a work in progress," a report from the National Conference of State Legislatures found.

Municipal advisor regulations are likely to be the focus of intense debate in 2014, as the Municipal Securities Rulemaking Board labors to release rules and broker-dealer groups continue to push for interpretations favorable to underwriters.

Transportation infrastructure funding is at a crossroad in 2014, as lawmakers confront the necessity of finding ways to bolster the rapidly depleting Highway Trust Fund while supporting efforts to ensure the nation's airports and ports maintain a global economic edge.

Transportation infrastructure funding is at a crossroad in 2014, as lawmakers confront the necessity of finding ways to bolster the rapidly depleting Highway Trust Fund while supporting efforts to ensure the nation's airports and ports maintain a global economic edge.

FirstSouthwest is protesting against "restrictive" conditions included in a request for quotations issued by the Greater Texoma Utility Authority in Texas, which said it will only consider proposals from a financial advisor that is independent from a broker-dealer.

Maryland Transportation Authority will generate less than $10 million a year in toll revenue from express lanes on a $1.1 billion highway improvement project.

The Internal Revenue Service is auditing $49.04 million of revenue bonds issued by IAH Public Facility Corp. in Polk County, Texas, in 2004 and 2006 for an adult detention facility.

Municipal market groups often at odds with one another are for once in agreement, with each telling the Internal Revenue Service that its proposed issue price rules are unworkable and would hurt issuers as well as the market.

Dan Heimowitz first got into public finance because of a devastating financial crisis in his hometown. Decades later, he's overseeing rulemaking covering a whole new class of regulated firms and individuals.

The Financial Industry Regulatory Authority fined five firms and three individuals for violations of municipal securities requirements, including Barclays Capital Inc., which was directed to pay $200,000 for using bond proceeds to reimburse itself for membership in a lobbying group.

Additional guidance from the SEC should provide some clarity to how the proposed trading restrictions under its new municipal advisor registration rule apply to municipal issuers, a securities industry official said.

Gonzaga University is planning to sell $53 million of revenue bonds to fund construction costs for a new building to replace its antiquated student center.

Washington State Treasurer James McIntire is urging the Internal Revenue Service not to adopt its proposed issue price rules, warning they would increase issuers' borrowing costs.