As we prepare for our Annual Meeting next week, I would like to share just a few of the organization’s many successes throughout the past year. NABL’s goal is to provide members with the right mix of education, resources, and advocacy, so we can advance the public finance and municipal bond industries. I think we’ve accomplished much of that over the last year.

Strategic Plan for 2025-2027

In May, the Board and NABL staff had a strategic planning retreat, and we brainstormed ideas on how to increase membership, educational offerings, and new products and services. We have our new strategic plan, which focuses on membership growth, conferences, and benefits. As we work on the different initiatives, we will share our progress with you.

Education and Learning Opportunities

• The Institute 2024, executed as a series of discussion forums, was a huge success. Thanks to the conference chairs and discussion forum leaders, Education Committee leadership, and Board members for bringing this idea to fruition. The Institute 2025, March 20-21, in San Diego, will continue the discussion forum format. Registration will open in late November.
• In February 2024, the Tax Law Committee held a roundtable discussion “Financing the Cloud,” in which members discussed tax structuring considerations on software hosted in the cloud.
• The Diversity Committee continued its webinar series called “Pathways to Leadership” and discussed firm partnership and NABL and MSRB Board Service. On October 24, the committee will host “Pathways to Leadership: Work-Life Balance.”

New Resources for NABL members

• Model Bond Opinion Report: The new report, completed and launched this month, includes new commentary on tax issues and explores the assumptions, limitations and qualifications that may be included in an unqualified bond opinion.
• Bonds & Beverages Events: We created a program for law students to raise awareness about public finance and increase the number of law students entering our industry. We hosted events in DC (February) and Chicago (March), and as a result, we had more than 20 students sign up as members. There are two more events scheduled for next month: Tallahassee (October 9) and Seattle (October 14). The taskforce created a toolkit that members can use to host events at their local law school(s).
• Mentorship Program by the Diversity Committee: We built upon the pilot mentorship program to kick-off an expanded and robust program this past year, with nine new bond and tax attorneys paired with experienced attorneys. If you want to participate, let us know.

Advocacy

• Planning for the 119^th Congress: The outcome of the 2024 elections will direct the next Congress, but two things are already certain: 1) action on tax reform next year is likely, and 2) NABL is already preparing. Our 119^th Congress Working Group has nearly finalized our action plan that will guide NABL’s advocacy work throughout the next Congress. We are working with our partner organizations to update data and collect stories that will allow us to tell powerful stories of what was built by bonds in our communities.
• Staying on Top of FDTA Implementation: We have continued to keep bond lawyers updated on the implementation of the Financial Data Transparency Act (FDTA), a law enacted in 2022 that will eventually impose data standards on financial regulators, including the Municipal Securities Rulemaking Board (MSRB). We have summarized the Proposed Joint Rule and have tracked agency updates via our FDTA issuer brief. We will continue to inform members as NABL submits response comments and the implementation continues.

I hope that this summary of just some of the successes over the past year will remind you of why you are a member of NABL. During the first week of October, we will introduce members to a new, easier way to renew your 2025 membership.

Thank you for your contributions to NABL. We couldn’t do it without you. It’s been an honor to serve as President.

Sincerely,

Carol Juang McCoog

President, National Association of Bond Lawyers (NABL)
Partner, Hawkins Delafield & Wood LLP