Tax-exempt bonds

Cross, who served as associate tax legislative counsel at the Office of Tax Policy until Friday, said that he resigned in order to be closer to family.

Iowa accounted for $16 million of the approximately $36.1 million in aggie bonds issued in 2017, according to a recent survey by the Council of Development Finance Agencies.

The number of trades decreased about 16% to 2.01 million from the same quarter in 2018.

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.

The number of letter rulings fell to four in 2018 when the fee rose to $28,300, from 16 rulings in 2008 when the fee was only $11,500.

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.”

Public safety and jail bonds, sinking fund overfunding and variable rate bonds are the top IRS compliance and enforcement priorities for the municipal bond market in fiscal 2020.

Despite his pessimism about legislation, Mayor Steve Benjamin was upbeat about the effort by himself and other advocates of the municipal bond industry to get out their message.

Internal Revenue Service enforcement officials told NABL workshop attendees the service is hiring five new revenue agents, up from the current 20, and two additional tax law specialists.

Rich Moore takes over the top spot at NABL during the first day of a three-day annual conference in Chicago.