Two senators last night unveiled a bill that would make the $30 million small-issuer limit for bank-qualified bonds permanent and index it to inflation.
The Municipal Bond Market Support Act of 2010, introduced by Sens. Jeff Bingaman, D-N.M., and Mike Crapo, R-Idaho, has been referred to the committee.
The bill would extend a provision in the American Recovery and Reinvestment Act that allows banks to deduct 80% of the costs of buying and carrying tax-exempt debt sold by borrowers whose annual issuance is no greater than $30 million. That is an increase above the previous limit of $10 million. The provision is currently scheduled to expire at the end of the year.
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Yorkville, Illinois, defaulted on special district bonds for Kendall Marketplace, a shopping center that never evolved into the expected retail powerhouse.
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By hiring Silvia Shin, Ballard Spahr became Delaware's appointed bond counsel.
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"We are entering a period during the summer months in which demand historically outweighs very limited supply, resulting in a supportive performance environment but more limited investment opportunities," said J. Robert Lind of Lind Capital Partners.
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Chicago had a $161 million deficit in fiscal year 2024, according to the annual comprehensive financial report the city released on Monday.
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The megabill now heads to the House, where Speaker Mike Johnson said a vote could come as soon as Wednesday.
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Reduced ridership, political backlash, and zero-fare agencies are challenging transit system finances.
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