NABL

The bond lawyer group's No. 1 suggestion is to loosen the rules governing state and local government borrowing for working capital.

The IRS also announced temporary guidance providing relief for the calendar year 2020 regarding the reacquisition of qualified tender bonds and commercial paper.

Among NABL's asks from Congress is to introduce a direct-pay taxable bond program through a new proposed bill.

The Municipal Liquidity Facility will purchase up to $500 billion of short-term notes.

NABL suggested that the federal government be allowed to purchase new issues of tax-exempt bonds.

“Anybody who’s having an event between now and May is considering what to do about it,” said Mike Nicholas, CEO of the Bond Dealers of America.

The National Association of Bond Lawyers wants Treasury to fill the position formerly held by John Cross III.

The current IRS fee charged to most governmental entities for private letter rulings is $30,000.

The IRS has informally responded to a letter from NABL asking for a reduction in the high fee it charged for private letter rulings.

House Democrats want restoration of Build America Bonds and advance refunding for municipal bonds to be key parts of their infrastructure plan.

Members of GFOA’s Debt Committee agreed Monday to form a working committee that will publicize the issues involved in the transition among the organization’s more than 21,000 members.

The Securities and Exchange Commission wll work with the market to change secondary disclosure habits without a mandate, issuers and analysts said.

Its top goal is to increase to $30 million the size of bank-qualified tax-exempt bond issues that can be sold to banks under favorable terms.

Another round of tax legislation is not expected to emerge until the very end of the year after the presidential election or in 2021 after a new Congress is sworn in.

Issuers, bond lawyers, and analysts have all raised complaints about the proposed addition to EMMA.

Some market participants worry about the viability of a key muni advocacy talking point if enough midsize issuers begin to embrace the taxable market.

The number of letter rulings fell to four in 2018 when the fee rose to $28,300, from 16 rulings in 2008 when the fee was only $11,500.

Municipal market participants got some comfort about their fraud liability if they act in good faith on interim financial disclosures.

Bipartisan legislation to streamline TIFIA has been introduced in Congress by two Texans.

GASB is taking action because changing the reference rate on the hedge is ordinarily considered a termination event.