CDFA is pleased to announce that Senators Brown (D-OH) and Perdue (R-GA) have introduced the Modernizing American Manufacturing Bonds Act (MAMBA) in the U.S. Senate (S. 3416). CDFA has worked with Senators Brown and Perdue over the past year to advocate for MAMBA. S. 3416 and its companion bill in the House (H.R. 2890) represent a comprehensive reform package that will modernize and revolutionize IDBs.

Additional Information:
>>> The Bond Buyer Article
>>> MAMBA Overview
>>> Full Text of S. 3416
>>> Full Text of H.R. 2890

In an effort to promote market transparency, the MSRB is seeking specific input on future development of its Electronic Municipal Market Access (EMMA) website, the official repository for information on virtually all municipal bonds.

The SEC's Municipalities Continuing Disclosure Cooperation initiative is causing many municipal issuers and underwriters to change the way they do things. Underwriters are scrutinizing issuer disclosures, and the representations made about those disclosures, for accuracy and clarity.

The U.S. Conference of Mayors stressed the importance of the muni exemption at its leadership meeting last week, which focused on the actions that should be taken during the first 100 days of the next administration, including the development of a much-needed national infrastructure investment policy.

The City and County of Honolulu has sold its first-ever green bonds, with the money raised to be used to refinance debt that was originally sold to pay for the Honolulu Program of Waste Energy Recovery, or H-POWER, in Kapolei.

The CleanSource SAVES Green Community Program uses Qualified Energy Conservation (QECB) bonds to fund loans to finance qualified projects in commercial, industrial, institutional and local government buildings within the jurisdiction which is providing the QECB allocation.

Legislation to tighten the rules around borrowing by Pennsylvania's municipalities has the unanimous approval of state senators in an effort to avoid a repeat of its capital city's near-bankruptcy.

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