News and Information from Bond Buyer

Changes in how Low-Income Housing Tax Credits are awarded has bond attorneys searching for answers in government offices that have been hollowed out through layoffs and retirements.

State government own-source revenue declined 2.3% in fiscal 2025 from the totals in fiscal 2024.

The commission also approved an audit for the financially troubled Winston-Salem/Forsyth County School District.

Fitch Ratings joined Moody's in upgrading Connecticut this week as the state prepares to sell $1.8 billion of general obligation bonds.

October is looking to be another blockbuster month for supply, with several $1 billion-plus deals on the shadow calendar, said Pat Luby, head of municipal strategy at CreditSights. 

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Michigan lawmakers must pass a 2026 budget before Oct. 1, but the Republican-controlled state House and Democratic-controlled Senate are far apart.

Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

The muni market is in a position to rally in the latter part of this year, said Daryl Clements, a portfolio manager at AllianceBernstein.

California lawmakers, who announced a deal with Gov. Gavin Newsom in June, say his administration failed to agree on loan terms ahead this week's deadline.

While victims' attorneys now signal support for the settlement, bond attorneys still oppose the plan.

Maryland's comptroller reports the state is projecting a $189 million drop in general fund revenue due to the unfolding effects of the One Big Beautiful Bill Act, which could result in the state decoupling from federal tax laws.

The mega-mall's investors will receive their second payment since the reserve fund ran dry in 2022.

Gov. Michelle Lujan Grisham ordered lawmakers back into session to mitigate the impact on hospitals, Medicaid, and other programs from federal policy changes.

Dallas Fort Worth International Airport plans to sell $2 billion of revenue bonds this week as it continues financing for a $12 billion capital program.

Monday's rally is a "continuation of what we are seeing," as the market is actively repositioning where it needs to go, said Alice Cheng, director of municipal credit and investor strategy at Janney.

Kutak Rock's Matthias Edrich will begin his one-year term as NABL's president Sept. 10.

Several major cities are staring down budget deficits and credit downgrades as the effects of inflation and OBBBA trickles down while relationships with their states adds complexity.