Looking to Next Year 

The 114th Congress will shortly adjourn after adopting a Continuing Resolution to fund the government until April 28, 2017.  The coming year, with a new Congress and a new President, could bring significant changes to municipal finance.  We were already aware of the possibility of changes to the tax treatment of municipal bonds and of the enactment of a major new infrastructure program.  Now, a bill introduced in the last week also proposes changes to the treatment of municipal obligations under the securities laws.

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Registration for the Ethics Teleconference Closes Monday

Monday, December 12 is the last day to register for the Ethics Teleconference, “Playing it Safe:  Reducing Your Potential Liability in a Bond Transaction” and fulfill your ethics credit requirements before the end of the year. The teleconference, which will take place on Wednesday, December 14, will provide participants a practical overview of some of the areas where legal liability may arise for bond lawyers and offer strategies to alleviate these risks.  The cost is $195 for members and $295 for non-members.  All registrants will receive the teleconference materials and dial-in instructions via email on Tuesday, December 13.

IRS Issues Final Issue Price Regulations

The Internal Revenue Service (IRS) has issued final regulations on issue price, which will be published in the federal register on Friday, December 9, with the effective date 180 days from publication.  The final regulations include a special rule for competitive sales. 

The final regulations are available here