Finance, investment and tax-related legislation

Groups active in the muni market are spending millions of dollars to influence policy and elect candidates, records show.

States would be barred from starting to require the collection and remittance sales taxes from online vendors located out of state until next year under a bill introduced by two Republicans in the Senate.

George Callas most recently was senior tax counsel to House Speaker Paul Ryan and was a chief architect of the tax reform legislation enacted in December.

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.