Washington

The American Public Power Association and two other groups are urging Obama administration officials to authorize more funds for clean renewable energy bonds, which can be issued as direct-pay as well as tax-credit bonds.

Moving money market funds to a floating net-asset value would cause investors to flee the funds and ultimately deprive state and local governments of needed capital, several municipal market groups are warning in a letter to the Securities and Exchange Commission.

The Internal Revenue Service ­withheld $707,757, or 15%, of the District of Columbia’s Dec. 1 Build America Bond subsidy payment because of payroll taxes, making the city the latest issuer caught by surprise with an offset.

WASHINGTON — Senate Budget Committee chairman Kent Conrad said Friday that his panel needs to come up with a plan to help states that approach Congress seeking ­assistance because of serious financial troubles.

The Securities and Exchange Commission on Friday charged two former portfolio managers with defrauding a tax-free mutual fund that invests primarily in municipal debt issued in Utah. It appears to be the first such case in which portfolio managers for a registered investment adviser were charged with taking fees from municipal bond issuers, sources said.

The Internal Revenue Service is auditing $250 million of Build America Bonds issued by Denver School District No. 1 in December 2009 to finance construction, renovation, and repair of school ­facilities.

WASHINGTON — The District of Columbia’s chief financial officer warned the city’s new leaders against writing a fiscal 2012 budget that draws on the general fund balance to pay for operations, saying that balancing the budget in this manner for the fifth straight year could threaten the district’s credit rating and reputation with bond ­investors.

WASHINGTON — The federal debt limit must be raised by the end of March to avoid the suspension of federal programs such as state and local government series securities that municipal issuers purchase for advance refunding escrows, Treasury Secretary Timothy Geithner warned Thursday.

WASHINGTON — House members voted 240 to 191 Wednesday to adopt Republican-approved rules for the 112th Congress that transportation and business groups claim will hurt funding for programs and possibly curb the ability of states to finance projects with bonds.

WASHINGTON — Issuers and their attorneys are fighting a provision in the Securities and Exchange Commission’s proposed rules for municipal advisers that would require appointed board members of municipal entities to register with both the SEC and the Municipal Securities Rulemaking Board if they advise on the issuance of municipal ­securities.

WASHINGTON— A federal judge in New York has denied a request by David Rubin, founder of CDR Financial Products, to transfer a bid-rigging case against him, his firm and two other former CDR officials to a federal court in Los Angeles.

Kimberly Betterton, a municipal bond and tax lawyer, has joined Ballard Spahr LLP in Baltimore, the firm announced Tuesday.

WASHINGTON — The Depository Trust Co. has more than doubled some of the fees it collects from municipal issuers for new bond transactions, drawing anger from issuers who are vowing to fight the increases.

Looming budget gaps for fiscal 2012 are the top concerns state legislators face as they begin their 2011 lawmaking sessions, according to a survey conducted by the National Conference of State ­Legislatures.

WASHINGTON — Only half as many muni advisory firms are registered with the Municipal Securities Rulemaking Board compared to those registered with the Securities and Exchange Commission, even though advisory firms are now required to sign up with both regulators under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

WASHINGTON — The incoming chairman of the House Transportation Committee opposes the Republican leadership's proposal for a change in House rules that could hurt the funding of transportation programs.

WASHINGTON — The Securities and Exchange Commission has approved a proposal by the Municipal Securities Rulemaking Board to nearly double the amount of fees it collects from dealers, despite industry opposition.

WASHINGTON — Economists have raised their estimates for economic growth in 2011, but they have mixed views on whether the unemployment rate will come down.

The Internal Revenue Service and the Treasury Department told issuers on Wednesday that they may release guidance as soon as possible on tax law issues triggered by the end of the year with regard to certain auction-rate securities and draws under draw-down loans or commercial paper programs.

Municipal market groups next year will face an uphill battle trying to get Congress to resurrect the Build America Bond program and other bond-related tax incentives that expire Dec. 31.