Tax-exempt bonds

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.

The IRS Office of Professional Responsibility took no action on the misconduct allegation against Brad Waterman, but informed him that a record of it would be kept for 25 years and revisited if needed.

The IRS has produced dozens of "issue snapshots" for the tax-exempt bond community, charities and non-profits, retirement plans, Indian tribal governments and federal, state and local governments.

The Walton Family Foundation provided seed funds to create two “innovative” financing vehicles for charter school facilities.

The IRS is focusing on $435.2 million of Series 2014A senior lien revenue refunding bonds and $75.87 million of Series 2014C second lien revenue refunding bonds.

Municipal bonds are financing a new Alabama zoo that will move hundreds of animals out of a hurricane danger zone.

The proposed legislation formally allows certain but not all taxpayers to have access to their IRS audit case file prior to dispute resolution hearings, ending the requirement to file a request under the Freedom of Information Act.

An MSRB study gauges the effect exchange-traded funds may have on muni market liquidity, a key question in the minds of some regulators.

The new tax law that terminated advance refundings of bonds after Dec. 31, 2017, does not specify that only "tax exempt" refundings are prohibited.

The bonds were used to finance the acquisition and renovation of an assisted living facility in Alabama by Dwayne Edwards, who the SEC charged with fraud last year.

New Jersey lawmakers are tackling legislation that would create an easier path for developers to finance large-scale economic development projects with bonds.

The SEC told a federal court that it will not pursue a judgment against the muni advisor firm or its principal unless it appears that the settlement process has stalled.

Brad Waterman says it's unfair for the IRS to withhold documents pertaining to a "suspected practitioner misconduct" charge that was filed against him but never investigated.

NABL details at least seven alternatives for outstanding bonds as well as five ways that new bond transactions can be structured.