News and Information from Bond Buyer

Gov. Joe Lombardo replaced his budget chief as the legislature's Democratic leaders criticized the Republican for submitting an out-of-balance budget.

Ongoing work to potentially simplify the new issue disclosure submission process and discussion of dealer supervisory obligations will be among topics on deck at the Municipal Securities Rulemaking Board's upcoming quarterly board meeting.

Bondholders say the Puerto Rico Energy Bureau is legally required to set rates to cover all bond principal and pre- and post-petition interest due. The board disagrees.

As Republicans hash out their promised tax package, the debate over the bill's scoring method carries implications for tax-exempt municipal bonds.

The municipal bond market's initial negative reaction to this month's Southern California wildfires has eased, with secondary spreads starting to tighten.

The agency's figures represent the most actions filed in their respective periods since at least 2000.

Investors added $2.028 billion to municipal bond mutual funds in the week ending Wednesday, following $251.7 million of outflows the prior week, according to LSEG Lipper data.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

The introduction of new engines in a northern power plant and the opening of a solar farm in the south have reduced the authority's operating costs.

The Maryland Department of Transportation moves to shore up its debt service while funding bridge repairs, airport modernization, and rail improvements with a $21.2 billion budget commitment.

The bill, which would enact on the federal level similar pro-gun legislation adopted by many Republican states, has gained 21 co-sponsors, including Senate Finance Chair Mike Crapo, R-Idaho.

Some observers say Jenniffer González Colón, who took office in January, may be more open to compromise with Puerto Rico Electric Power Authority bondholders.

The state House and Senate announced their spending plans for the upcoming biennium, including funding to continue and increase 2023's state-funded tax cut.

Issuance was led by a $2 billion retail pricing from the University of California in the negotiated market and a $1.2 billion competitive deal from Washington.

The Municipal Securities Rulemaking Board reported total net assets of $67 million for its fiscal year ended Sept. 30, 2024, up 14% from a year earlier.

Broker-dealer Siebert Williams Shank's foundation donated $100,000 to two organizations aiding Los Angeles-area residents affected by the wildfires.

President Trump's executive order calling for pausing funds flowing from the Infrastructure Investment and Jobs Act caught the transportation sector off guard.

There are eight municipal bond interval funds, three of which launched last year, promising fewer liquidity constraints and the potential for higher returns.

The county would hold a special election for a sales tax to provide more funds to build and operate a bond-financed jail project that faces rising costs.

A record-breaking year for bond issuance will likely be followed by another strong year for munis even as the threat of ending the tax-exempt status appears in writing within the halls of Congress.