Private activity bonds

California, Massachusetts and New York came closest to utilizing their volume caps for PABs in 2018, according to a recent survey by the Council of Development Finance Agencies.

Competitive pricing and speed convinced the owners of the Carlsbad, California, plant to use a taxable bank loan instead of tax-exempt debt.

The California Infrastructure and Economic Development Bank agreed to issue $3.25 billion for the proposed line linking Vegas and Victorville, California.

S&P Global reports state HFAs are maintaining high ratings this year, “buoyed by demand for affordable housing and mortgages, low interest rates, relatively low unemployment, increasing wages, and the overall strong domestic economy.”

The expiration of a federal highway bill could provide a catalyst for expanding bonds, according to former Senate Finance Committee tax counsel, Ryan Abraham.

Protesters targeted investors in prisons and Puerto Rico bonds at the Museum of Modern Arts' opening.

The judges appeared to reject the separate argument that passenger rail projects constitute an ineligible use of the PABs which are meant for highway use.

The private activity bonds would be used to help finance the planned Virgin Trains USA line to Victorville, Calif., from Las Vegas.

Attorneys for Indian River County, the Department of Transportation and Virgin Trains will appear before the U.S. Court of Appeals for the District of Columbia.

The U.S. Department of Housing and Urban Development said Thursday it is expanding the Rental Assistance Demonstration program to Section 202 PRAC units that house senior citizens.