Washington Update Archive

2015 What's Inside...
06/27/16 SEC Announces Municipal Securities Fraud Settlement with Illinois Issuer; NASBO Releases Latest Fiscal Survey of the States; MSRB Makes ABLE Documents Available on EMMA; CHOICE Act Introduced
06/20/16 OMB, COFAR Schedule a New Uniform Guidance Webcast; SEC Issues Settlement Charges Against Muni Advisors; Senators Ask SEC to Investigate Puerto Rico Bond Deals; GFOA Issues New Alert on MCDC Settlement Terms; SIFMA Releases State Disclosure Review
06/13/16 IRS Holds Hearing on Definition of Political Subdivision; Expenditure Input Sought by FASAB; New Government Employment Survey Finds Empty Accounting Positions Going Unfilled
05/31/16 Puerto Rico Fiscal Bill Moves to Full House for Vote; IRS Schedules Hearing on Political Subdivision Rules; Senate Committee Moves Government Transparency Bills
05/23/16 DOL Releases Final Overtime Rule with State and Local Government Fact Sheet; Puerto Rico Fiscal Bill Introduced; The Week Ahead: Stopping Terrorism Financing and Facilitating Transparency
05/16/16 GAO Watchblog Focuses on DATA Act in Year Two; CBO Launches New Search Tool for Intergovernmental and Private-Sector Mandates; Rep. Hultgren Tells House Subcommittee of the Value of the Municipal Tax Exemption; Brief Examines County Public Pension Interaction with States; SEC Announces Charges in Tribal Bonds Scheme
05/02/16 DATA Act Program Management Office Seeks Help With Section 5 Grants Pilot Test Models; NASBO Analyzes Performance Data for State Fiscal Policies; GAO: DATA Act Progress Faces “Significant Challenges”
04/25/16 NASACT Members Featured in 60 Minutes Segment; Treasury Collects More Than $3 Billion in Delinquent Debts for States, Including $1.9 Billion in Delinquent Child Support; GREAT Act Introduced; The Week Ahead: GAO Comments on Government Reform
04/18/16 SEC Charges Issuer with Hiding Information from Bond Investors; SEC Chair Asks for More Money to Combat Muni Bond Misconduct; SIFMA Releases White Paper Recommending Improvements to Disclosure in the Municipal Securities Market; Investor Advisory Committee Requests More Mutual Fund Disclosure
04/11/16 MSRB Requests Comments on Proposals to Improve Disclosure of Direct Purchases and Bank Loans; Nunes Reintroduces PEPTA; Federal Reserve Tweaks Muni Bond Liquidity Rule; SEC Confirmation Vote Postponed; The Week Ahead: Puerto Rico’s Recovery and the Fixed-Income Market
03/21/16 Municipal Advisor Charged for Failing to Disclose Conflict of Interest in Bond Deal; SEC Issues Guidance on Fund Disclosures; GAO Releases TANF MoE Update; Senate Schedules Fixed-Income Hearing
03/14/16 IRS Warns of Phishing Scam Against States; SEC Fines Issuer for Failing to Provide Accurate Financial Information; SLGE Issue Brief Puts Numbers on OPEB liabilities; The Week Ahead: SEC Commissioner Nominations
03/07/16 The 2016 Washington Office Issue Survey is Now Underway: Share Your Input!; Hultgren and Ruppersberger Launch Municipal Finance Caucus; State SNAP Hearing Examines State Flexibility Opportunities; Task Force on Tax Reform Releases Mission Statement
02/29/16 IRS Issues Proposal to Modify Definition of Political Subdivision for Tax-Exempt Bond Purposes; MSRB Launches Outreach Effort for Issuers on the Municipal Securities Market; MSRB Issues Brief to Investors on Ways to Buy Municipal Bonds; SLGE Brief Examines State Efforts to Address the Private Sector Retirement Savings Gap; The Week Ahead: State SNAP Options
02/16/16 GFOA Alerts Issuers to SEC’s MCDC Settlement Actions; Puerto Rico Debt Hearing Scheduled; GAO Proposes Changing Medicaid Funding Formula
02/08/16 House Passes HQLA, Public Pension Reform Group Launched, New GAO Watchblog Covers DATA Act and Tracking Federal Spending, 
Merkley Introduces Retirement Bill for Those Without Access
01/19/16 SEC Announces 2016 Examination Priorities; SEC Approves New MSRB Rule G-42 on Duties of Non-Solicitor Municipal Advisors and Related Amendments to MSRB Rule G-8; MSRB Releases 2015 Annual Report
01/11/16 Food and Nutrition Service Issues Proposed Rule on SNAP EBT Cards; IRS Issues Notice Extending ACA Information Reporting Deadline; MSRB Seeks New Board Members; The Weeks Ahead: Puerto Rico and SNAP Rules
12/21/15 NASBO Releases Fiscal Survey of the States; Government Funding Approved Through Next September; GAO Releases 50-Year State Government Fiscal Simulation; Congress Adjourns for Winter Recess
12/14/15 Hatch Introduces Puerto Rico Assistance Bill with State Pension Plan Reoprting Requirements; SEC Chair Again Calls for a "Single Set of High-Quality, Globally Accepted Accounting Standards"; ICMA, SLGE Introduce New Public Plans Database; House Hearing Examines State's Abilities to Monitor and Enforce Internet Gambling Laws
12/07/15 SEC, FINRA, MSRB to Hold Compliance Outreach Program for Municipal Advisors; Puerto Rico Asks for Congressional Help with Debt Crisis; The Week Ahead: State Exchanges
11/23/15 DOL Releases Fact Sheet on State Savings Programs for Non-Government Employees; SEC Commissioner Aguilar Announces Official Departure Date; NASBO Releases State Expenditure Report; GAO Releases Effectiveness Assessment; The Week Ahead: Thanksgiving Recess
11/09/15 Voters Select Auditors/Treasurers in Three States; New Ways and Means Chair Selected; Sanders Introduces Bill Decriminalizing Marijuana; Financial Services Moves HQLA Muni Bill; NGA Names New Executive Director: A Name Familiar to NASACT; Treasury Official Calls for Puerto Rico Bankruptcy Fix
11/02/15 House Speaker Elected, Ways and Means Chair Officially Vacant; SEC Announces 2015 Enforcement Results, Including Muni Market Actions; GFOA Executive Board Approves New Best Practices; The Week Ahead: Improving Medicaid
10/26/15 Rep. Ryan Announces House Speaker Run, Nunes Aims for Ways and Means Chair; Obama Names Two to SEC; SEC Chair Comments on the Treasury and Bond Markets; The Week Ahead: SNAP
10/13/15 House Leadership in Flux as Speaker of the House Vote Postponed; MSRB Requests Comment on Board Member Terms; House Committee Holds Chip Payment Hearing; The Week Ahead: Fall Recess
10/05/15 Government Shutdown Averted on the Final Day of Fiscal Year; GAO Unveils Center of Audit Excellence; GAO Looks at Improper Payments and the Tax Gap; SEC Fines Underwriters for Fraudulent Muni Bond Offerings
09/28/15 Federal Government Shutdown Looms Once Again; New IRS Resource Helps Employers Understand the Health Care Law; MSRB Requests Comment on Requiring Disclosure of Mark-Ups; SEC Proposes Liquidity Management Rules For Mutual Funds and ETFs; The Week Ahead: Puerto Rico Municipal Debt, End of Year Spending, and Improper Payments
9/21/15 NFMA Releases New Disclosures Report; Federal-State P3 Bill Introduced; MSRB to Create Investor Advisory Group
9/14/15 OMB and OFFM Release Technical Corrections to the Uniform Guidance and Updated FAQs; Medicaid Hearing Unveils a List of Bills to Address Program Integrity; The Week Ahead: Regulatory Reform
08/03/15 House Conducts DATA Act Hearing; Next Round of Data Element Feedback Closes August 17; Senate Appropriations Committee Keeps SEC Funding at Current Level, Demands More Spending Transparency; The Weeks Ahead: Summer Recess
07/27/15 Twelve State Treasurers Ask SEC for Standardized Private Equity Fee Disclosure; MSRB Announces Discussion Items for Board Meeting; Social Security Report: 2034 the New Depletion Date; Tax Extenders Move in Senate; The Week Ahead: Dynamic Scoring, Divestment, and DATA Act Implementation
07/20/15 Puerto Rico Bankruptcy Bill Introduced in Senate; White House Promotes State-Run Retirement Saving Opportunities; SNAP Examiners: Let the States Share in Budget Savings; The Week Ahead: Tax Extenders
07/13/15 GAO Releases Overview Report on Medicaid; Senate Finance Committee Releases Tax Reform Working Group Reports; Senators Introduce Bill to Increase Fines on Municipal Violations; The Week Ahead: SNAP
06/29/15 Moody’s: State Debt Drops for the First Time in Nearly Three Decades; Treasury, IRS Seek Input on Tax-Exempt Bond Pricing; SEC Issues Risk Alert, Announces Investigation into Retirement Advice; Congress Enters Recess
06/22/15 SEC Levies Fines on Underwriters Through MCDC Initiative; Revamped Online Sales Tax Bill Introduced; NASBO Releases Fiscal Survey of the States; The Week Ahead: Medicaid, SNAP and Infrastructure Financing
06/15/15 MSRB Requests Comment on Independence of Institutional/Retail Investor Board Member, Board Term Lengths and Disclosure of Applications; Cato Director Says Wasteful Federal Spending is a State Problem; Cato Director Says Wasteful Federal Spending is a State Problem; The Week Ahead: Balanced Budgets, Governing Through Goal-Setting and Nutrition Assistance Rules
06/08/15 State Finance Bills Discussed in Judiciary; The Week Ahead: Wage Standards, SNAP and Wasteful Government Spending
05/26/15 New Director of SEC Muni Office Announced; Federal Reserve Proposes Adding Muni Bonds to Bank Liquidity Holdings; Sanders Introduces Bond Trading Tax Bill; GAO: States Need to Provide Better Payment Information to CMS; Issa Introduces Financial Transparency Act; The Week Ahead: Memorial Day Recess
05/18/15 DOT Notice: States Get No Money After May 31 Without Transportation Extension; SEC Commissioners Announce Resignations; Rep. Reed Proposes New Muni Bond Legislation; The Week Ahead: Fraud in Nutrition Programs, SNAP, and America’s Long-term Fiscal Picture
05/11/15 Bill Introduced to Treat Municipal Bonds as HQLAs; Move America Bonds Bill Introduced; OMB Issues New DATA Act Memo; MSRB Releases Report on the Timing of Annual Financial Disclosures
05/04/15 529 Plan Bill Moves in Senate, GAO on SEC Accounting and Internal Controls: Improvements Needed, Submissions to Tax Reform Working Groups Made Public
04/27/15 MSRB Releases Content Outline for First Municipal Advisor Professional Qualification Exam; SEC Commissioner Piwowar Comments on MCDC and Complexity in the Muni Market; The Week Ahead: P3s
04/20/15 Tax Exempt Protection Letter Circulated in House; Congress Passes Two-Year SCHIP Extension; House Passes Permanent State Sales Tax Deduction; GAO Releases Duplicative Processes Report; GASB Releases 2015 Strategic Plan
03/30/15 GAO Report Cites Grants Management Issues in Distressed Municipalities; State Treasurers Appear on C-span; The Week Ahead: Easter Recess
03/23/15 Expanded Improper Payments Bill Picks Up Momentum; Treasury, IRS Seek Input on Priority Guidance Plan; GSA/HHS to Conduct DATA Act National Dialogue and Pilot on Reducing Reporting Compliance for Federal Grant and Contracting Partner; The Week Ahead: The SEC Agenda
03/16/15 The 2015 Washington Office Survey Results Are In!; SEC Commissioner: Municipal Market Needs Supervision; Senate Committee Seeks Public Input on Overhauling Tax Code; Online sales tax bill introduced
03/09/15 The 2015 Washington Office Survey is Now Underway: Share Your Input!; GAO Releases Report on Duplicative Programs and Improper Payments; The Week Ahead: House in Recess While Senate Looks at Tax Reform
02/17/15 Municipal Bankruptcy Bill Released, COFAR Uniform Guidance Input Requested, House Examines Puerto Rico Bankruptcy Options
02/17/15 GAO High-Risk List Released; House Committee Votes to Expand State 529 Plans and Make State Sales Tax Deduction Permanent; Social Security Unveils New Antifraud Website; MCDC Webinar Attempts to Answer: “What’s Next?”; The Week Ahead: President’s Day Recess
02/09/15 State Bankruptcy Bill Reintroduced; SEC Commissioner Calls for Improvements in Municipal Market Disclosures; 529 College Savings Plan Enhancement Bill Introduced in Senate; The Week Ahead: Looking Back at Tax Reform and Examining High-Risk Programs
02/02/15 President Pulls Back on Taxing State’s 529 Plans; MSRB to Issuers: Disclose Your Bank Loans; GAO Identifies Skills Gaps for Federal Auditors; The Week Ahead
01/26/15 SEC Announces Rating Agency Settlement: Two States Get Funds; House Financial Services Oversight Plan Includes MSRB and GASB; Definition of Full-Time Employee Under the ACA Debated
01/20/15 Permanent State Sales Tax Deduction Bill Introduced; States Would be Banned from Taxing Internet Access under Goodlatte Bill; Senate Finance Committee Leaders Launch Tax Reform Working Groups; IRS TEB Division to hold Webinar; The Week Ahead: What is “Work”?
01/12/15 New 114th Congress Convenes, Municipal Bankruptcy Bill Quickly Introduced; MSRB Looking for New Board Members; The Week Ahead: The State of the U.S. Economy
2014 What's Inside...
12/15/14 Camp Introduces Tax Reform Bill; Omnibus Bill Finally Passes, Congress Adjourns
12/8/14 House Oversight Holds Hearing on DATA Act; House Passes State Sales Tax Deduction; MSRB to Accept Disclosures About Municipal Asset-Backed Securities; MSRB and FINRA to Host Webinar on Proposals to Provide Pricing Reference Information to Investors
11/24/14 Supreme Court Begins Hearing Case of State Comptroller vs. Wynne; GAO: SEC Financial Statements Have “Continuing and New Deficiencies in Internal Control Over Disgorgement and Penalty Transactions”; New Chairmen of House and Senate Committees Announced; Sylvis is Named Vice Chair of GASB, Announces Retirement from Tennessee
09/22/14 Labor Department Announces New Unemployment Insurance Enforcement Grants to States; Rockefeller “Data Alert” on State Finances Paints Tough Income Tax Picture; SEC 2014-2018 Strategic Plan Released
09/15/14 SEC Office of Municipal Securities to Continue Focus on Municipal Advisor Rules and Regulations; MSRB Seeks Comments on Strategic Priorities; Social Impact Bonds Pick Up Momentum; The Week Ahead: DC as a State, CHIP, and Retirement Savings
08/04/14 GAO on State Medicaid Payments: More Transparency Needed; SEC Extends MCDC Deadline; Pew Reports on State’s Rainy Day Funds; State Tobacco Taxes Generating Smuggling Rings: Senate Hearing; Congress Enters Summer Recess
07/28/14 SEC Approves New Money Market Fund Rules; Social Security Publishes Open Government Plan 3.0; The Week Ahead: Heavy Schedule Before Summer Recess
07/21/14 MSRB releases muni market pricing report; SEC Money Market fund meeting set; SEC fines E&Y over auditor independence rules; President introduces Building America Initiative; The Week Ahead: Balanced Budgets and ACA tax credits
07/14/14 SEC Settles First MCDC Case; Donovan Takes Over at OMB; The Week Ahead: The Long-Term Budget and Federal Salaries
06/30/14 GAO: States Should Audit MCO Payments; SEC Halts Bond Sale; Social Impact Bond Bill Introduced; SEC Chair: Put Technology to Work in the Bond Markets; Congress Enters July 4th Recess
06/23/14 Proposal Seeks to Tie State Sales Tax Deduction to Raising Federal Gas Tax; Internet Caucus Seeks Permanent Internet Tax Ban; GAO: U.S. Consolidated Financial Statements Have Control Deficiencies; IRS Updates Sequestration Effects on Bonds
06/16/14 Bill Introduced to Make State Sales Tax Deduction Permanent; State Fiscal Survey Shows Moderate Growth; IRS to hold Webcast to introduce new
TEB Director; The Week Ahead: HFT and State Employment Opportunities
05/26/14 Tax extenders bill stalls; House Oversight Subcommittee Reviews Fraud in Public Housing; Senate Subcommittee Examines State
Infrastructure Needs; Congress enters Memorial Day recess
05/19/14 Senators, FinCEN discuss financial legality of state’s marijuana laws; The Week Ahead: FSOC, MLR, Fraud in Public Housing, and Transit Infrastructure
05/12/14 DATA Act passes House, Signed into Law by the President; SEC issues virtual currency alert; Senate looks at a more “efficient” government workforce; The Week Ahead: Future funding of the SEC
05/05/14 DATA Act Passes House, Goes to President; SEC Chair Outlines Recent and Future Activities; House Discusses Changing the Way States Tax Income; House Subcommittee Focuses on Financial Literacy
04/14/14 Senators to SEC: Exempt Municipal Market Funds From Floating NAV; DATA Act Passes Senate; Congress Enters Two Week Recess
04/07/14 Senate Committee Moves Tax Extenders Bill; SEC Shuffles Muni Office; Creating a "21st" Centruy Government
03/31/14 IRS Releases Virtual Currency Guidance Notice; Senate Committee Chairman Responds to IRS Virtual Currency Guidance; The Week Ahead: A 21st Century Government
03/18/14 SEC Wants Issuers to Come Forward with Their Problems; Internet Sales Tax Hearing "States Estimate the Annual Lost Revenue at $23 Billion; Municipal Advisor Rule Featured in Webinar; The 2014 Washington Office Survey Results Are In!
03/11/14 GAO Releases Consolidated Financial Statements for the Federal Government; Moody's Explains New Ratings Methodology; Internet Sales Tax hearing Pushed Back, 2014 Washington Office Survey Enters Final Week
03/04/14 The 2014 Washington Office Survey is Now Underway; Draft Tax Reform Plan Released; The Week Ahead: Internet Sales Tax, The Fiscal 2015 Budget, Protecting FInancial Information, and Contractor Perfomance
02/18/14 New Report Identifies Ways for State to Budget More Effectively; SEC Names Investor Relations Leader; House Oversight Demands New York Repay Billions in Medicaid Funds
02/10/14 SEC releases draft Strategic Plan; SEC Chair Discusses Muni Finance
in Senate Hearing; MSRB Updates EMMA
01/21/14 New Report Calls for Federal Intervention in State Pension Funding; CIGIE Asks for Exemption from Computer Matching and Privacy Protection Act; SSDI Fraud Case Explained in Subcommittee Hearing
01/13/14 Congress Returns, Short-Term CR Needed, MSRB Seeks New Board Members, MSRB Issues Proposed Municipal Advisor Rule, SEC Issues Guidance on Municipal Advisor Registration, The Week Ahead: Government Travel and Benefits Fraud
2013 What's Inside...
12/16/13 New IRS Commissioner Nominee Goes Before Finance Committee, SEC Releases 2014 Regulatory Agenda, Congress Enters Holiday Recess
11/25/13 Will Virtual Currencies Enter Into State Finance?, Congress Enters Thanksgiving Recess
11/18/13 Senate Takes a Closer Look at Payroll Fraud, Budget Conferees Meet Publically, The Week Ahead: Federal Government Oversight Positions, DATA Act on House Floor
11/12/13 Congress Returns During Veteran's Day Holiday Week, Senate Committee Passes DATA Act, Senators Introduce One-Year Delay in Penalty Fee for Not Having Individual Health Insurance
11/04/13 DATA Act Goes Before Committee this Wednesday, House Committee Moves GRANT Act, Health Insurance Exchanges on the Schedule in the Senate
10/28/13 Federal Government Re-Opens/Budget Conferees Named, Federal Health Care Exchange Under Fire in House
10/07/13 Federal Government Shutdown Enters Second Week
09/30/13 Possible Federal Shutdown on the Horizon, Online Sales Tax Issue Sparks in House Judiciary
09/23/13 Debate on Money Market Mutual Fund's Floating Net-Asset Value Moves to House, GAO to Fed: Incorporate Recovery Act Lessons, SEC Releases Final Municipal Advisor Rule
09/16/13 House Subcommittee Examines Affordable Care Act Implementation Status, The Week Ahead: Money Market Funds, Financial Transparency
08/05/13 DATA Act Pulled Before Recess, Senate Confirm New SEC Commissioners, Werfel Out at IRS, Ways and Means Looks at State's Welfare Examples
07/29/13 Detroit Bankruptcy Draws Array of Responses from Congress, Conyers Asks House Judiciary to Hold Municipal Bankruptcy Hearing, Pew Looks at How States are Helping Their Fiscally Distressed Communities
07/22/13 GAO Releases Strategic Sourcing Report, Senate Committee Moves SEC Nominees, The Week Ahead: State Resource Revenue Sharing (x2) and Financial Literacy
07/15/13 GAO Releases No Audit Opinion on Federal Government's Financial Statements, House Subcommittee Delves Into Medicaid, The Week Ahead: Strategic Sourcing, SEC Nominations, and Much More
07/01/13 SEC Muni Office Official Steps Down, Joint Report Released Showing Job Losses Associated With Possible Muni Bond Changes, Counties Weigh in on Possible Changes to the Tax-Exempt Status of Muni Bonds, July 4th Recess Underway
06/24/13 House Committee Discusses "Reinventing Government," MSRB Releases New Municipal Market Videos, GOVERNING Webinars Look at Impending State Health Exchanges and High-Performance Government
06/17/13 House Subcommittee Looks at Medicaid Reform, MSRB Releases an Educational Video Describing the Role of MSRB, The Week Ahead: Reinventing Government
06/10/13 SEC Proposes New Money Fund Rules, Senate Hearing Showcases Negative Effects of Austerity Measures on National Economy, Rockefeller Institute Sees Three Consecutive Years of State Fiscal Recovery
05/28/13 GAO Examines More Program Overlap and Duplication, Amended DATA Act Passes Out of Committee, Congress Enters Memorial Day
05/20/13 Chairman Issa Releases DATA Act Discussion Draft, New SEC Chair Appears Before House Committee, GAO Report/Hearing Goes After "Silo Busting", The week ahead: FSOC, Performance Management and Tax Reform
05/13/13 Online Sales Tax Bill Moves Out of Senate, SEC May Create Hybrid Money Fund Rule, Committee Leaders Announce Creation of TaxReform.gov
04/29/13 Online Sales Tax Bill Set for Final Vote, Sen. Burr Introduces Pension Transparency Bill, Senate Subcommittee Looks at Financial Literacy
04/22/13 SEC Hosts Municipal Market Roundtable, Public Pension Transparency Bill Reintroduced in House, Online Sales Tax Bill Making Moves in Senate, MSRB Updates State and Local Toolkit
04/15/13 Congress Returns - Senate Confirms Mary Jo White as SEC Chairman, New OMB Director Nominee Headed for Confirmation, MSRB Announces Disclosure Upgrades to EMMA, MSRB to Display Political Contributions
03/25/13 Banking Committee Moves Mary Jo White to Full Senate Vote, Ways and Means Focuses on Municipal Bonds, House Committee Releases Medicaid Report, Oversight Committee Moves Transparency -Contractor Bills
03/18/13 Government Transparency Hearing Features No Government Representatives, 2013 Washington Office Survey Results are In, Muni Protection Resolution Introduced in House
03/11/13 President Names New OMB Director, Nunes to Resurrect Bill to Block Bond Sales Without Pension Disclosure, MSRB Asks for Municipal Market Input, 2013 Washington Office Survey Ends This Friday
03/04/13 Federal Government Prepares to Implement Sequestration, Medicaid Fraud Hearing Revolves Around GAO Report, New Treasury Secretary Approved, 2013 Washington Office Survey is Underway
02/19/13 GAO Announces High-Risk Programs in the Federal Government, Tax Policy Working Groups Take Shape in House, Online Sales Tax Bill is Jumpstarted, Webinar Examines Eligibility Fraud
02/11/13 Government Reform Committee Goes After Spending Fraud, President Officially Sends His Nominees for CMS, SEC to Senate, Time for States to Modernize Medicaid Systems: GOVERNING Webinar
01/07/13 113th Congress Convenes, Fiscal Cliff Bill Extends Some State Financial Matters, MSRB Seeks Comments on Their Rule Book


The NASACT Community

NASACT serves as the premier organization working to bring together state auditors, state comptrollers and state treasurers to cooperatively address government financial management issues. NASACT also manages two secretariats - the National State Auditors Association (NSAA) and the National Association of State Comptrollers (NASC). Both NSAA and NASC are included under the umbrella of NASACT’s budget and utilize staff hired by NASACT.