Private activity bonds

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.

As U.S. airports crowd into the debt market to fund capital projects, Dallas-Fort Worth International Airport will increasingly turn to taxable bonds.

Insurance companies are eager to invest in infrastructure with the right policy support, a new white paper said.

Florida agencies will negotiate with the private rail operator, currently known as Brightline, to build tracks for passenger service to Tampa.

The deal clears one legal obstacle to the upcoming issuance of PABs, although two other challengers plan to pursue a federal lawsuit.

The passenger train operation will rebrand as Virgin Trains USA after a small investment from Richard Branson's Virgin Group.

“Asset recycling can help fix America’s serious infrastructure problems: aging, deteriorating facilities and a lack of funding for a large array of new infrastructure that would improve our quality of life," the study's author said.

Massachusetts Democrat Richard Neal, friendly to the muni market, is likely to chair the critical Ways and Means Committee.

State officials say the P3 structure will allow it to complete the Interstate 75 project a decade early.

Three areas are new additions to the work plan of the Tax Exempt and Government Entities Business Operating Division, IRS officials said.

With Democratic majority, Rep. Richard Neal of Massachusetts, a supporter of tax-exempt bond financing, would chair the Ways and Means committee.

GASB is accepting comments through Nov. 2 on its proposal to clarify the definition of a conduit debt obligation.

Incoming NABL president Dee Wisor wants the group to be more active in Washington.

The coalition is sponsoring a campaign fundraiser for Rep. Richard Neal of Massachusetts, the ranking Democrat on the House Ways and Means Committee.

Thirty states told the Council of Development Finance Agencies they issued mortgage revenue bonds in 2017 compared to only 18 that issued mortgage credit certificates.

States reported a 20.2% jump in the issuance of private activity bonds from the $20.4 billion issued in 2016.

Brightline, which runs a passenger train service in Florida, is taking over the XpressWest project.

North Carolina officials are trying to figure out how to unwind parts or all of a 2014 public-private partnership that is building managed toll lanes on a Charlotte-area highway.

Congress could pass legislation authorizing advance refundings and liberalizing private activity bond restrictions to aid in disaster recovery, NABL said.