Washington

The Administration has concluded that, as part of a comprehensive approach to Puerto Rico's crisis, a tested federal bankruptcy regime is necessary.

The IAH Public Facility Corp.' $49 million of bonds for a jail in Polk County, Texas, are one of a number of issues that have been audited by the IRS, which has claimed jail bonds are taxable private activity bonds.

Puerto Rico could benefit from a control board similar to what Congress implemented for Washington, D.C., said former House Speaker Newt Gingrich.

Justin Underwood will join Bond Dealers of America on Nov. 16 as federal policy advisor.

The Government Finance Officers Association's executive board recently approved two updated disclosure best practice documents designed to help issuers meet their bond-related disclosure requirements while considering the possibilities of website-based and voluntary disclosures.

The $500 million of federal TIGER grants to transportation projects in 34 states brings the total to $4.6 billion since 2009.

The National Governors Association is calling on newly elected House Speaker Paul Ryan to move transportation and online sales tax legislation.

The House on Tuesday passed a three-week extension of federal transportation funding that would keep reimbursements to states for highway and transit projects flowing through Nov. 20.

The Treasury Department and Internal Revenue Service have released final allocation and accounting rules that bond lawyers say will help in administering public-private partnerships for transportation and joint ventures involving hospitals.

The ports of Seattle and Tacoma have merged their marine cargo operations in an effort to better compete with other Pacific ports while keeping their bond portfolios independent.

A proposed House bill to treat investment grade and actively traded municipal securities as high quality liquid assets received support from members of a House Financial Services Committee panel as well as banking experts during a hearing on Wednesday.

States will be hard-pressed to maintain their credit quality if they attempt to fund infrastructure needs solely through traditional tax-exempt debt financing, Standard & Poor’s said in a new report.

Washington Gov. Jay Inslee announced Oct. 16 that the federal government will assist parts of the state that suffered significant infrastructure damage in recent natural disasters.

The Municipal Securities Rulemaking Board’s proposed changes to extend its gift rule to municipal advisors “remain unclear in crucial areas” and “do not go far enough to prevent abuses” by both MAs and broker-dealers, the National Association of Municipal Advisors said.

Economic study says privately financed Texas bullet train could generate billions of tax dollars for state and local governments.

The District of Columbia’s recent institutional investor conference is likely to lead to increased demand for its bonds, the city’s chief financial officer said.

The Treasury Department is now estimating that the extraordinary measures it’s been using to preserve the U.S. borrowing capacity since the debt limit was reached will be exhausted by Nov. 3 – two days earlier than a previous estimate.

A bipartisan bill offered in the House would extend the Qualified Zone Academy Bond program by providing $400 million of volume cap for the bonds in each of 2015 and 2016.

The Financial Industry Regulatory Authority ordered San Juan-based Santander Securities on Tuesday to pay $6.4 million for supervisory failures related to Puerto Rican municipal bonds.

Rebecca Olsen, deputy director of the Securities and Exchange Commission’s office of municipal securities, has concerns about municipal advisor misconceptions she has heard about who can advise in the municipal market and who can be considered an independent registered municipal advisor.