The Internal Revenue Service recently released Notice 2019-39, clarifying the scope of permitted current refundings of bonds issued under special governmental bond programs. Issuers may rely on this Notice to issue tax-exempt bonds to currently refund any bonds that are issued pursuant to such targeted programs, subject to some limitations.
Continue Reading IRS Blesses Current Refundings of Targeted Government Bond Programs (With Limits)
May 2019
PA Assembly Passes Law Aimed at Improving Municipal Authority Fiscal Controls
By Tim Horstmann on
Posted in Public Finance, State Government
Pennsylvania Governor Tom Wolf recently signed into law Act 4 of 2019 (HB 264), which amends section 12 of the Municipality Authorities Act, 53 Pa.C.S. 5612, to establish minimum standards for an Authority’s financial and operating procedures. Act 4 received unanimous support in both the House and the Senate.
Act 4 makes a number of…