Bonds

Louisiana is set to float $1.34 billion of private activity bonds in April as part of its largest public-private partnership to date, which will replace an aging bridge over Interstate 10 near St. Charles. The Louisiana Public Facilities Authority released details of the financing after the State Bond Commission last week signed off on the

As the infrastructure law nears the halfway point of its life, the rollout of its expanded Buy America provision, a key part of President Joe Biden’s bid to strengthen American manufacturing, has been confusing and failed to address gaps in the domestic supply chain. That was the message from state transportation departments and construction experts

Austin, Texas, officials are heading to court to seek validation for a controversial issuance of bonds to help fund a multi-billion-dollar light-rail project. The Austin City Council on Thursday authorized the move, as well as amendments to an agreement with the Austin Transit Partnership (ATP), a corporation created by the city and its Capital Metro

The Kentucky Office of the State Budget Director reported January’s general fund receipts increased to $1.3 billion, up 4.4% from the same time last year. Last month’s sales tax receipts hit a record high at $586.2 million. Large increases also occurred due to a new section of the individual income tax, the pass-through entity tax,

Massachusetts Governor Maura T. Healey’s $56.1 billion budget proposal for fiscal 2025 calls for increased funding to the state’s Commonwealth Transportation Fund that will enable it to borrow an additional $1.1 billion over the next five years. The fiscal 2025 budget proposal, which represents a 2.9% increase over the current year’s spending, would dedicate $250

The Alameda Transportation Authority sold over $216 million in revenue refunding bonds to restructure ACTA’s debt through a combined tender offer and debt restructuring plan. The bond sale allowed ACTA to reshape its profile to avoid projected debt service shortfalls and match anticipated revenue growth. The rail corridor consists of a 20-mile multi-track rail system

Oklahoma’s credit quality is looking up, rating agencies say, with Fitch Ratings joining Moody’s Investors Service and S&P Global Ratings in revising the state’s rating outlook to positive from stable. Fitch, which rates Oklahoma AA, said Friday the revision reflects sustained improvements in expenditure flexibility and overall fiscal management, “particularly its adherence to conservative budgeting

A four-day atmospheric river-fueled storm that walloped California caused estimated damages of up to $11 billion and put the state’s aging infrastructure to the test. The preliminary damage estimate of up to $11 billion by AccuWeather accounts for damage to homes, businesses, infrastructure, facilities, roadways and vehicles, as well as over 900,000 reported power outages

An active primary market was the focus Wednesday with the New York City TFA pricing for institutions with small changes to yields from its Tuesday retail offering, Massachusetts upsizing its GO refunding deal and Wisconsin selling green bonds in the competitive market. Triple-A muni yield curves were mostly little changed to a basis point of

Municipal bonds are part of an Illinois city’s plan to help the local casino build a bigger venue at a new location. In its current form, Aurora’s Hollywood Casino occupies a barge tethered near downtown on the Fox River. The city wants to build a brand new casino resort about five miles away, near an

Hawaii’s first-of-its-kind per-mile fee for vehicles marks the latest and most extensive effort yet among states seeking to offset the fading fuel tax. Signed into law by Gov. Josh Green last July, the law requires EVs to pay a per-mile charge or an annual fee by 2025 and will require all vehicles to pay a

Illinois’ Commission on Government Forecasting and Accountability on Thursday released its Special Pension Briefing on the state-funded retirement systems’ fiscal 2023 actuarial reports. The report said the five pension systems’ unfunded liability climbed to a market value of $142.2 billion at the end of fiscal 2023 on June 30 from $139.8 billion in 2022, with

Pennsylvania Gov. Josh Shapiro announced a new economic development plan that he says will guide the priorities when he releases his budget this week. The 10-year program is Pennsylvania’s first economic development plan in nearly two decades and targets areas including site readiness, workforce development and housing and community development. “For too long, Pennsylvania’s neighboring

The Biden administration will not be appealing to the Supreme Court an Eleventh Circuit ruling in favor of states, who’ve challenged the American Rescue Plan Offset Provision that bars states from using federal aid dollars to fund tax cuts, in what may be an end to those state challenges. That decision was communicated in a

Proposed changes to California’s mental health system and a $6.4 billion bond measure proposed in Proposition 1 continue to garner more support as the March 5 election draws near. The proposition, which will be the only one on the March ballot, would use funds from California’s so-called millionaire’s tax to create more slots for people

On Wednesday the House passed new legislation that seeks adjustments to Low-Income Housing Tax Credits issued by the Treasury that lowers the volume requirements of state-issued private activity bonds.  The Tax Relief for American Families and Workers Act passed via a 357 -70 vote featuring strong bipartisan support. It stands on two legs of expanding

Florida lawmakers are asking Congress to expand the use of tax-exempt private activity bonds to include commercial spaceports. “The push for Congress to grant spaceport bonds tax-exempt status has been a conversation for many years,” said a spokesperson for Space Florida, the state’s aerospace finance and development authority, which oversees the development of the Florida’s

President Joe Biden will visit Wisconsin Thursday to announce nearly $5 billion in grants to kickstart transportation projects across the country. The largest grant, of $1 billion, will go to replace the aging Blatnik bridge between Wisconsin and Minnesota, where Biden will make the announcement. President Joe Biden is set to visit Wisconsin Thursday to

The Oklahoma Senate will not take up an income tax cut during a special legislative session next week as it waits for more information about the state’s financial position. The Republican-controlled chamber will commence and immediately adjourn the session that starts Monday just like it did for an October special session on tax cuts Gov.

Dealer groups representing firms of all sizes are urging the Securities and Exchange Commission to adopt the Municipal Securities Rulemaking Board’s 2024 rate card for fear that reverting back to 2023 levels would cause significant disruption. That’s according to a joint letter signed by the Bond Dealers of America and the Securities Industry and Financial