Midwest

A bill introduced in the House would make municipal bonds issued by historically black colleges and universities tax-exempt at the federal, state and local levels.

The Chicago Teachers Union is moving closer to a strike that would mark a setback in the junk-rated Chicago Public Schools’ efforts to stabilize its finances.

While Mayor Rahm Emanuel has chipped away at the pension problem, Chicago has come nowhere close to identifying a solution. The city must, at a bare minimum, contribute enough every year, including 2016, to ensure that the plans' funded ratio not drop below, and that their unfunded liabilities not exceed, 2015 levels.

Chicago-based veteran municipal analyst Peter Stettler has joined Piper Jaffray's strategic analytics team.

Illinois named 15 firms to the new senior manager underwriting pool it will use for negotiated bond sales over the next three years.

The Michigan Treasury has appointed Michigan State University local government expert Eric Scorsone as senior deputy state treasurer for finance.

The Michigan Finance Authority approved a plan to issue $235 million of debt to refund some Detroit Public Schools bonds before they lose their state aid backing on Oct. 1.

Chicago will bolster its police ranks as part of a broader plan aimed at reining in a skyrocketing homicide rate that some believe threatens to undercut the city’s recent fiscal progress.

Developers of major “transformational” projects proposed in Michigan would be allowed to capture sales and income taxes related to the project as way to offset the costs of redevelopment under legislation that is headed to the state senate.

Wisconsin’s new budget director will take the helm next month as work begins in earnest on the state’s new biennial spending plan.