Washington

The Internal Revenue Service issued a favorable private-letter ruling to an issuer who planned to issue governmental and private-activity bonds to finance improvements to water facilities.

A $35.4 million issue of revenue bonds for a private detention center in Central Texas will retain tax-exempt status following a review by the Internal Revenue Service, according to a disclosure notice.

Almost $3 billion of potential lost revenue from cuts in Maryland gasoline taxes could cripple spending for major transportation projects.

Leslie Carey Kirk has joined Siebert Brandford Shank & Co. Washington, D.C.'s office as general counsel for the firm.

The Financial Industry Regulatory Authority has fined two firms $370,000 for violating securities rules in their management of Puerto Rico funds, and dinged another firm $50,000 for violating trade reporting requirements.

The Conroe Industrial Development Corporation in Texas has requested a settlement under the Internal Revenue Service's voluntary closing agreement program to resolve a tax violation relating to bonds it issued in 2008 and 2012.

Harvey J. Goldschmid, a former Securities and Exchange Commission member who played a key role in getting the American Bar Association to adopt an ethics rule to prevent municipal bond and other pay-to-play practices, died Feb. 12 at the age 74 from complications of pneumonia.

Washington state lawmakers' new $15 billion transportation proposal funded with a higher gasolines tax and $4.3 billion of state GO bonds.

As 2015 begins, capital markets participants would do well to reflect on the lessons of recent Chapter 9 proceedings.

House Transportation Committee approved rail legislation that prompts Amtrak to seek private partners for station development projects.

As regulators push for more disclosure of bank loans, there is confusion about the implications for and obligations of dealers, issuers, and municipal advisors.

The ruling that the former mayor was liable for violations of securities laws as a "control person" is one of which every official of a state or local government issuing debt should be aware.

Transportation Secretary Anthony Foxx warns states of cutbacks in federal highway funding if Congress doesn't pass a transportation bill by May 31.

Two former Senators who were instrumental in tax reform in 1986 said reform should be comprehensive and presidential commitment is very helpful.

The Internal Revenue Service has announced how many qualified zone academy bonds can be issued in each state, the District of Columbia and U.S. territories for 2014.

The suspension of the nation's debt limit expires March 15, with important implications for municipal issuers selling refunding debt during the next several weeks.

The tax exemption for general purpose state and local debt has consistently been one of the biggest corporate tax expenditures since 1975, according to the Joint Committee on Taxation.

The National Federation of Municipal Analysts is preparing to push home its pro-disclosure message this year with a series of new educational papers and efforts to be even more collaborative, new NFMA board chair Jennifer Johnston said.

Qualified Public Infrastructure Bond plan marks a further step in the Obama administration's Build America Investment Initiative.

The Securities and Exchange Commission's disclosure violation self-reporting program has highlighted that issuers and underwriters should take steps to strengthen their disclosure and due diligence procedures to protect themselves from SEC enforcement action, bond lawyers said Thursday.