The Municipal Securities Rulemaking Board is proposing a new rule that would require solicitor municipal advisors to disclose more information in writing, streamlining existing guidance in the process. The MSRB requested comment for draft MSRB Rule G-46 Wednesday evening. The rule would codify interpretive guidance from 2017 on its MSRB Rule G-17 on fair dealing

Illinois Supreme Court justices posed questions but offered little indication of how they might be leaning during oral arguments about a lawsuit that seeks to halt repayment of $14.3 billion of Illinois general obligation bonds. The court faces two questions in John Tillman v. Gov. J.B. Pritzker et al. One asks it to clarify the

Georgia native Alan Skelton will succeed David Bean as director of research and technical activities at the Governmental Accounting Standards Board April 1. Bean, who has served as the director since 1990, is retiring after 31 years in the position. Bean also has served as deputy chairman of the International Public Sector Accounting Standards Board

Municipal yields rose on the back of U.S. Treasuries as the asset class could no longer ignore the large swings in its taxable counterpart. Triple-A benchmark curves cut yields anywhere from four to 10 basis points. Municipal to UST ratios rose with Thursday’s 10-year at 67% and the 30-year at 72%, according to Refinitiv MMD,

New Jersey’s proposed budget features an odd mix of dynamics that include a pandemic, an election year, massive borrowing, significant federal aid and a major pension liability problem. Gov. Phil Murphy’s $44.8 billion fiscal 2022 plan before lawmakers would raise spending by more than 10% and earmark about $6.4 billion toward pensions in what would

Los Angeles plans to use its share of federal transportation stimulus funds to more rapidly restore full bus service and to fund rail projects that took a hit as sales tax revenues declined amid the pandemic. “With this pandemic wreaking havoc on our local budgets, these relief funds will go a long way toward helping

There is a strong possibility a highly anticipated major infrastructure bill won’t have any Republican support, a reality that would limit municipal bond provisions that advocates have been pushing for years. Infrastructure advocates have called for a comprehensive bill by this summer, but some say that bill is likely to go through budget reconciliation —

Build America Mutual opened an office in Austin, Texas, to expand its presence in the state with its largest transaction volume. Greg Pacifico, managing vice president and head of Texas public finance, moved from New York to head the new office, while Vlad Puchek, an assistant vice president in the surveillance group, relocated from New

The delay in the federal tax filing deadline until May 17 is expected to force many states to enact similar delays. And it will also complicate their budgeting process for the new fiscal year that begins July 1 in 46 of the states. Lucy Dadayan, a senior research associate for the State and Local Finance

The municipal bond market was quiet Friday after a volatile week that saw 10-year U.S. Treasuries hit one-year highs and hold there following comments by the Fed that it apparently dismissed. Federal Reserve Board Chairman Jerome Powell press conference didn’t necessarily change the market’s opinion that the Fed will need to move before 2023 and