Private activity bonds

The Florida Development Finance Corp. has also changed the date and location of the meeting where it will decide if it will approve the bonds.

Lawmakers are weighing legislation that would authorize $100 million of special purpose revenue bonds to build and operate the plant.

The Florida Development Finance Corp. has been asked to approve a third private activity bond allocation for Brightline/Virgin Trains.

The private passenger train operation that debuted as Brightline says it will stay private for now.

None of the 12 recommendations require congressional action and all are within the scope of the administrative powers of the IRS, according to NABL.

Indian River County will file an appeal as it continues fighting against private activity bond financing for the passenger rail project.

The initial public offering will raise up to $540 million to expand Florida's passenger train system and acquire the Las Vegas XpressWest project.

Until a clarification is issued, bond lawyers are requiring that the rental units be open to all who qualify without any preferences for special groups such as veterans.

The legislation would leverages $8 billion in federal investment into $226 billion worth of bond authority over the next 10 years.

Indian River County filed an appeal and a new lawsuit against the private owners of Brightline.

Treasury is requiring both more and less specificity in the public approval process for private activity bonds.

The Federal Register publication of the finalized PAB regulation takes effect April 1, but part of it can be implemented by issuers immediately.

A federal judge sided with the private passenger train project and tossed out a suit by Indian River County, Florida.

The tax fix is being lost in the rush by Congress to enact a temporary spending measure to keep the government operating through Feb. 8.

The survey of securities firms showed pressures caused by unfunded pension obligations is expected to be the biggest issue for the muni market next year.

Reps. Brian Mast and Bill Posey asked Transportation Secretary Elaine Chao not to extend a Dec. 31 deadline to issue private activity bonds.

The private passenger train project in Florida also faces new litigation from longtime adversary Indian River County.

Rep. Steve Stivers plans to use the recruiting skills he honed as chair of the House GOP campaign arm to enlist new members of the bipartisan Municipal Finance Caucus in the next Congress.

Fitch Ratings said the BB-minus rating on Brightline’s $600 million of private activity bonds was removed because the project has changed strategic focus.

The Internal Revenue Service has told bond attorneys that the law doesn’t explicitly say that veterans are a special needs population under the rules for the tax-exemption for multifamily private activity bonds.