Bailey Quoted in The Bond Buyer about Proposed Regulations Impacting Municipal Market

02 January 2019 The Bond Buyer News
Partner Michael Bailey was quoted in The Bond Buyer article, “Treasury Finalizes PaB rRG, Proposed Re-Issuance Reg,” about two long-awaited regulatory steps that will impact the municipal market. The Treasury Department and the Internal Revenue Service published final public notice requirements for issuing private activity bonds and a proposed regulation clarifying when tax-exempt bonds require re-issuance. The final regulations simplify the public notice and approval requirements for PAB issuance. They do not, however, drop the requirement for a public hearing in certain circumstances.

Bailey said the regulations were a welcome development. “They were, in many ways, responsive to the comments,” said Bailey, who is a board member of the National Association of Bond Lawyers. The NABL had requested that the public notice requirement be reduced to seven days.

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