Finance, investment and tax-related legislation

The proposed rules would clarify that an institutional investor could take part in a public-private partnership for a bond-financed project without making the bonds taxable.

The proposed legislation formally allows certain but not all taxpayers to have access to their IRS audit case file prior to dispute resolution hearings, ending the requirement to file a request under the Freedom of Information Act.

It's important and constructive to talk about these kinds of alternatives to advance refundings, market participants said.

The new tax law that terminated advance refundings of bonds after Dec. 31, 2017, does not specify that only "tax exempt" refundings are prohibited.

A toll-charge proposal could disarm congressional opponents and create some hope for legislative success.

Congress' deficit-raising actions have made it more likely that munis would be targeted for cuts to raise revenues in infrastructure or other future bond-related legislation.

South Dakota, which has no state income tax and relies on sales and use taxes for much of its revenue, will make its oral arguments to the high court on April 17.

The proposed ballot initiative would make Proposition 13 property tax breaks portable.

As the political gears churn, issuers and borrowers should huddle with legal counsel and financial advisors to consider the possibility of worst-case scenarios in which some or all of the proposed tax reform legislation is enacted.

Smaller hospitals and colleges and affordable-housing developers will be more challenged in distributing their bonds under proposed tax reforms.