GFOA

Reinstatement of advance refundings could be packaged with infrastructure legislation because many state and local governments have used the savings to finance new infrastructure.

The Securities Industry and Financial Markets Association's newest model documents incorporate months of experience with the year-old issue price regulations, which most issuers think are working well.

Issuers and the MSRB are mostly on the same page about primary offering practices that may warrant scrutiny, but some members of the GFOA's debt committee are concerned about "regulatory creep."

The case involves as much as $100 billion in state and local sales tax revenue over the next decade, according the e-commerce retailers that are defendants in the lawsuit.

Muni issuance will pick up next year, said George Friedlander, managing partner of Court Street Research Group.

The MSRB said the paper was prompted in part by the tax law's prohibition on advance refundings and the fact that interest rate swap rules intersect with the board's rules for municipal advisors.

Some states don't remit all of the sales tax funds that are due to local governments from e-commerce retailers.

A sweeping bank regulatory bill under debate in the Senate is very close to achieving something the muni market has been fighting for since 2014: the inclusion of municipal bonds as high-quality liquid assets.

NABL favors shortening to seven from 14 days the advance notice requirement for a public hearing about the issuance of PABs.

The firm announced a $10 million investment and landed California, the muni market's largest issuer, as a client.