Tax-exempt bonds

The IRS announcement of an advisory committee shuffle has some lawyers nervous.

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

The memo appears to respond to a March 29 written request by the National Association of Bond Lawyers to Christie Jacobs, director of the IRS Indian Tribal Governments/Tax Exempt Bonds Office to clarify the new law.

Raymond James has hired Guy Yandel to open a public finance office in Denver and to expand the firm’s public finance business in the mid-western, mountain, and western states.

The fallout from a 2017 federal fraud case is continuing to impact bond investors with the latest development involving the loss of tax-exempt status for bonds that were issued for two assisted living facilities in Georgia.

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

The Public Employee Pension Transparency Act (HR 6290) would prohibit states and localities from issuing tax-exempt bonds unless they file annual reports on their public pension systems to the U.S. Treasury Department.

Three Republican senators have introduced legislation that would slash federal spending for transportation and federal fuels taxes and put more responsibility on states for transportation infrastructure and all mass transit projects.

The firm is expanding its bond counsel practice in Virginia and the Southeast.

The Kinney County Public Facility Corp. issued $9.23 million in project revenue bonds to finance the the warehouse style building with 384 beds for adults.