Washington

The Indianapolis Airport Authority said this week that it has agreed to settle a dispute with the Internal Revenue Service over rebate liability in connection with $347 million of tax-exempt bonds, even though it disagrees with the IRS' position on the bonds.

A California authority and a high school district said this week that they are prepared to file a protest and appeal of an expected Internal Revenue Service proposed adverse determination that $25.4 million of tax-exempt variable rate demand bonds are taxable.

With the House Natural Resources Committee planning to release a new Puerto Rico bill on Wednesday and vote on it a week later, Treasury Secretary Jack Lew traveled to the commonwealth to hold meetings to drum up support for a legislative solution.

Colorado Senate has approved a $3.5 billion road note package that could go to voters in November.

Municipal industry experts on Thursday urged analysts to continue focusing on how the presence of statutory liens can change the treatment of debt in bankruptcy proceedings and ratings analyses.

The par amount and number of municipal securities trades rose in the first quarter of this year, compared to both the previous and same quarters last year, according to Municipal Securities Rulemaking Board statistics posted Thursday. But the number of continuing disclosure documents received dropped to 46,623 in the first quarter of this year from 47,934 during the same period last year.

A regulatory official and market participants sparred over the merits of the Securities and Exchange Commission's voluntary continuing disclosure enforcement initiative during a panel here on Wednesday while acknowledging the need to improve municipal disclosure.

U.S. Treasury Secretary Jack Lew said concern for the people of Puerto Rico is the primary reason he wants lawmakers to adopt restructuring legislation for the commonwealth.

Dustin McDonald, the current director of the Government Finance Officers Association’s federal liaison center, is leaving GFOA on Friday to lead the marijuana technology company Weedmaps’ government relations practice.

In a near unanimous vote, the Senate Environment and Public Works Committee on Thursday passed a bill that includes $1.4 billion in federal funding for Flint, Mich. as well as any other community facing a water crisis.

After having been withdrawn from the energy bill in the Senate, controversial legislation to provide federal funds to Flint, Mich., and any other community facing a water crisis, has been included in a major water bill introduced in the chamber this week.

Standard & Poor’s Ratings Services this week revised its outlook to negative from stable on both the District of Columbia’s bonds outstanding issued for National Public Radio (NPR) and on its issuer credit rating for the media organization.

The Internal Revenue Service is preliminarily challenging the tax-exempt status of bonds issued by the District of Columbia as part of a much lauded public-private partnership to build a new elementary school.

A recent Superior Court ruling, a pending district lawsuit and a renewed push for statehood have all set the stage for a budget showdown in the nation’s capital this fall.

President Barack Obama, Vice President Joe Biden and their wives released their 2015 federal income tax reforms on Friday, with neither showing any municipal bond holdings or tax-exempt interest.

Bond Dealers of America will be working on a full plate of issues this year as it helps its members navigate recent and ongoing regulatory developments while maintaining its educational and Capitol Hill-centered work, said new BDA board chair John Fechter.

State officials say a 45% road funding shortfall will cripple Minnesota’s highway expansion plans by 2018.

Two House Republicans presented a committee with their legislative proposals to reform or abolish the federal income tax system, sparking concerns from some members of the municipal bond community.

First Winston Securities, Alton Securities Group, and MidAmerica Financial Services were ordered to pay a total of $115,000 in fines and restitution by the Financial Industry Regulatory Authority for violation of municipal securities rules.

House Republican leaders plan to hold a policy meeting Friday morning with their members on pending legislation for Puerto Rico to try to gain more support for it.