The California School Boards Association is suing the state over a Proposition 98 work-around included as a trailer bill in the budget. Proposition 98, often referenced throughout California’s state budget process, constitutionally mandates the state to allocate a certain percentage of the state budget to education each year. The 2024 Education Omnibus Budget Trailer Bill,

Massachusetts plans to sell $490.7 million of municipal bonds to help fund improvements for its commuter rail and other transportation projects throughout the state. The bonds are scheduled to price Wednesday after a retail order period Tuesday, according to an online investor presentation. According to preliminary bond documents, the deal consists of three series: a

On Monday President Joe Biden addressed the nation about the federal response to Hurricane Helene and signaled he would ask Congress for supplemental disaster funding.  “That’s my expectation,” he said.  He also hinted at calling lawmakers back into session to help deal with the emergency. “That is something I may have to request. No decisions

Warren “Bo” Daniels, managing director and head of public finance for Loop Capital, will take over as chair of the Municipal Securities Rulemaking Board Oct. 1, bringing a three decade career to an organization set to take major steps forward in the coming year. Jennie Bennett, associate vice president for finance at the University of

The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds

Georgia’s weakening economy and the long-run impact of recent tax cuts are concerns, credit analysts say, albeit ones the state’s triple-A bond ratings may ride out successfully. The state’s unemployment rate has gone up for four consecutive months, according to the U.S. Bureau of Labor Statistics. The GOP-dominated state government has been cutting the top

Almost every state has cut taxes over the past few years, but as the economy returns to normal, budget shortfalls are starting to emerge.  “The past few years have been dominated by tax cuts,” said Richard Auxier,  a principal policy associate in the Urban-Brookings Tax Policy Center. “From 2021 to 2023, 48 out of 50 states

A Missouri government is the latest to offer government support — funded through municipal bonds —to revive a moribund mall.  But developer River City Centre’s plan for West Park Mall in Cape Girardeau, a city of 40,500 along Interstate 55 about midway between St. Louis and Memphis, breaks with the current trend of converting malls

The House last week passed a package of bills aimed at curbing the use of environmental, social and governance factors in retirement investment decisions and limiting Securities and Exchange Commission climate-related disclosure rules. The bills were part of what the GOP dubbed an “anti-woke week” on the Hill. The legislation has little chance of advancing

Jason Akers got hooked on public finance early. The National Association of Bond Lawyers’ new president was fresh out of school, working for a large Southeast firm, when one of its bond lawyers took him under his wing. “I enjoyed the interaction with public officials, helping to make their ideas reality,” Akers told The Bond

Kentucky’s issuer rating was upgraded to Aa2 from Aa3 and the outlook changed to stable from positive by Moody’s Ratings. The move follows upgrades by Fitch Ratings in May 2023 and by S&P Global Ratings in June 2023. The agency upgraded to Aa3 from A1 $4.4 billion of general fund appropriation backed debt and to

Moody’s Ratings lifted Oklahoma’s issuer rating a notch to Aa1 with a stable outlook on Wednesday, citing the state’s strong fund balances, low leverage, and conservative budget management.  The upgrade is the first for Oklahoma since Moody’s, Fitch Ratings, and S&P Global Ratings  revised their outlooks for the state to positive from stable beginning last

A Major League Soccer stadium in Frisco, Texas, will undergo bond-financed renovations under an agreement approved Tuesday by the city council.  The Frisco Community Development Corp. will issue up to $182 million of sales tax revenue bonds for the Toyota Stadium project, which must commence by Dec. 31, 2025, and be completed by the end

On Tuesday, former President Trump announced support for lifting the cap on the State and Local Tax deduction, a move which has wide support from municipal bond issuers.  Trump made the announcement via his Truth Social network as part of a personal post saying, “I will turn it around, get SALT back, lower your taxes,