Tax laws

The Internal Revenue Service and the University of Rhode Island appear to have settled an inquiry by the agency regarding the tax status of higher education facility revenue bonds issued in 2018.

While some reliable options have emerged, market professionals remain hopeful the old advance refunding will return before the desire to bring it back loses any momentum.

"A lot of these priority items are bottlenecking, said Brian Egan, director of government affairs at the National Association of Bond Lawyers.

The determination is based on the slow speed of expenditure and expectations.

Washington Gov. Jay Inslee signed legislation Tuesday improving a tax increment financing program created in 2021 that wasn't working as intended.

Part of the problem may be the lack of a muni finance tax expert in Treasury, a position that has been vacant since 2019.

More than half of the 163 bills introduced in state legislatures across the country propose one-time funding for transportation projects using bonds, excess COVID relief or budget surpluses.

Kelly has twice introduced legislation to broaden private activity bonds.

Rep. Jason Smith sold colleagues on his intentions to strictly oversee the Biden administration.

While hope remains for certain muni priorities in 2023, others look highly unlikely to gain traction in an ideologically-split Congress.

The clock is ticking on Congress waiving PAYGO for Build America Bonds, a budget bear trap that could delay promised subsidy payments totaling $14 billion to issuers.

In the letter addressed to House congressional leaders, members urged leadership to expand the affordable housing credit and lower the PAB requirement.

Vern Buchanan looks poised to succeed Richard Neal as chairman of the powerful Ways and Means Committee should Republicans take the House on Nov. 8 and could offer the muni agenda a fresh start.

Luisella "Sella" Perri has wide experience in the public finance arena, with a focus on federal tax laws and regulations related to tax-exempt financings.

Partisan politics is playing a larger role in public finance, flaring up into bickering more often than in the past.

Joseph "Jodie" Smith takes the reins at the influential bond lawyer organization.

Vern Buchanan appears to lead the way, but recent moves by Jason Smith to appeal to more GOP leaders make the race for chair of the Ways and Means Committee a tight one.

Sunita Lough won admiration from the public finance legal community.

Issuers praised the bill's climate provisions while muni market participants said it's unlikely to significantly hurt demand for tax-exempt paper.

Sens. Manchin and Schumer's long-elusive deal on a energy, climate and tax bill includes no muni-friendly items or SALT reform.