Economy

The work from home environment will reduce city property tax collections in coming months and years, analysts say, creating financial issues.

The Biden Administration has partnered with five cities and the State of California in efforts to reduce homelessness.

The system's turnaround efforts include using proceeds of a proposed $710 million deal to sell hospice and home health assets to pay off direct placement debt.

Lawmakers passed a stopgap $150 million loan fund for hospitals in fiscal distress, and will discuss longer-term solutions as the session progresses.

Harris Health System is asking Harris County to place a bond proposition on the November ballot.

The city north of Detroit says it can't afford to make good on a $24 million debt owed to the Great Lakes Water Authority and in the absence of state help has raised state-approved bankruptcy as an option.

Seattle's Sound Transit, the biggest beneficiary of a federal low-interest loan program, had received three more loans totaling $327 million.

"We need to have the debt ceiling raised quickly with close to $30 trillion in debt at risk," said Steve Mnuchin, the former treasury secretary.

Despite legislation and political rhetoric, demand for environmental, social, and governance focused debt remains strong.

Increasing electric rates to pay the debt would lead to economic contraction, a University of Puerto Rico professor said.

The bondholders and bond insurers submitted four expert reports to support their belief they deserve more money than what's being offered in the PREPA bankruptcy.

The authority will borrow to pay off its debt at about 50 cents on the dollar.

The House Appropriations Committee heard from tribal leaders about housing and transportation needs.

The MSRB will request comment on Rule G-12 on inter dealer confirmations and seeks to codify or retire nearly 40 pieces of interpretive guidance related to it.

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

"We know this cliff is coming," said state Sen. Ram Villivalam, head of the state Senate transportation committee. "What structural reforms are we looking at implementing? What innovation can we pursue?"

A bill to prevent developers from buying bonds issued by their metropolitan districts died, but another measure limiting interest rates in such cases was enacted.

A letter of credit would be used, in part, to help fund a settlement between WAPA and its fuel supplier Vitol.

Secretary of Transportation Pete Buttigieg appeared before the House Appropriations Committee to warn of serious consequences of budget cuts.

The $3.3 billion Transportation Modernization act allows for P3s for roadway development, a first for the state.