Southeast

The Internal Revenue Service has closed audits and left the tax-exempt status unchanged for $311.28 million of community development district bonds in Florida that started the whole debate about political subdivisions and led the tax agency to propose controversial rules for such districts earlier this year.

West Virginia has passed a law giving the governor the power to pay debt service if a budget has not been enacted on time.

Mississippi absorbed a downgrade from Fitch Ratings, which cited weaker-than-expected .performance and criteria changes in lowering its issuer default and general obligation ratings one notch to AA.

North Carolina Gov. Pat McCrory signed the 2017 budget bill into law, increasing the general fund by 2.8% to give teachers raises, cut state income taxes, and bring reserves to an all-time high.

Miami Beach will begin preliminary negotiations with a group led by France-based Alstom to build a modern light rail streetcar estimated to cost $400 million in its famed South Beach district.

Louisiana faces another thorny funding issue: how to address billions of dollars in backlogged transportation needs.

Former Alabama House of Representatives speaker Mike Hubbard was sentenced Friday to four years in prison on 12 felony corruption charges stemming from his role as a legislator

The Securities and Exchange Commission is battling with Miami and former budget director Michael Boudreaux over whether they can defend themselves against securities fraud charges by saying they relied on advice from auditors.

After Mississippi tapped its rainy day fund for a second time to cover a budget shortfall, Moody's Investors Service called the withdrawal a credit negative.

Federal FASTLANE grants totaling $800 million go to 18 road and rail projects aimed at easing congestion.