GFOA

State and local governments and trade groups have until Sept. 13 to submit comments on the 48-page exposure draft GASB released June 13.

The rule will take effect 30 days after publication in the Federal Register, which usually takes about three business days.

GFOA had a previous president from the higher education sector, but Stone is the first from the K through 12 sphere.

Steven Gibson became president last year and is the deputy city manager in Rock Hill, South Carolina.

Municipal Securities Rulemaking Board Chair Gary Hall said the MSRB will examine governance rules such as the time period between when individuals leave their industry jobs and when they are allowed to become public board members.

GFOA members also will elect five new members-at-large.

The positive side is the bipartisan legislation for reinstatement introduced by 10 House lawmakers last week has a high possibility of being included in any infrastructure legislation that passes that chamber.

Issuers are concerned that the Municipal Securities Rulemaking Board reopening discussion of Rule G-23 could bring back "shady" practices.

GFOA members said they were taken aback and in some cases upset about the tone of the National Federation of Municipal Analysts' letter to regulators.

Mid-size issuers may be experiencing the greatest impact, with one municipality even reporting that an underwriter withdrew a bid over a disclosure requirement.

Blockchain could benefit the muni market, but receives pushback in an industry historically slow to change.

A bill to let money market mutual funds use a stable net asset value is back on the table with the support of muni issuers.

All four industry groups that submitted comments on the proposed rule requested a continuation of the practice that allows remarketing reissuances at a premium.

The SLGS window could be closed for weeks or even months, a bad result for issuers who need access to them.

A large municipality with strong legal representation will draw attention, even from those skeptical of whistleblower suits alleging bank fraud in the variable-rate demand obligation market.

Issuers say a variety of factors make it difficult to get audits in any faster.

With Rule 15c2-12 amendments taking effect at the end of February, issuers expressed confusion about their impact on continuing disclosure responsibilities.

GFOA’s goal is to get a majority of House members to sign a letter pledging not to touch the tax exemption as they debate new infrastructure funding proposals.

Rep. John Yarmuth of Kentucky wants to end automatic across-the-board budget cuts that include a reduction in the subsidy for direct-pay Build America Bonds.

MSRB board members and staff are slated to participate in eight events between next month and May.