Municipal disclosure

Municipal issuers are learning the ropes of ESG disclosure and marketing.

Any new legislation should fit the "unique" nature of the municipal bond market, Sanchez said.

The municipal dealer community supports market transparency. The proposal before Congress, however, is poorly conceived, has few if any market supporters, and has the potential to be very expensive.

An audience poll during the National Association of Bond Lawyers' Workshop indicated that offering and disclosure fraud were among the highest concerns for the muni market.

Legislation requiring standardized financial disclosure from issuers is attached to a must-pass defense bill, which narrows the window to fight the measure.

The muni market is watching the fiscal 2023 defense bill closely to see if a final version requires issuers to overhaul their financial disclosure practices.

Opponents say the legislation could prompt issuers to drop out of the public bond market while supporters say investors and regulators deserve standardized financials.

Ben Watkins, Director of the State of Florida's Bond Division, talks with Chip Barnett about the latest news coming out of the Sunshine State and takes a look at what's happening in Reedy Creek. He discusses Florida's bonding and debt, infrastructure plans and dives into the state's ESG priorities. (30 minutes)

The University of Michigan is studying the use of XBRL technology for local government financial reports with the state Department of Treasury set to act next.

A group of 20 muni bond investment firms have asked U.S. cities to disclose their environmental-related needs and risks, including infrastructure projects, to CDP, a global disclosure firm.