Tax Policy: Tax-Exempt Bond Issuance Costs

Weekly Updates

LegiStorm is constantly adding new information on the people, places and reports in our database. In the past week, LegiStorm added:

376 new people
171 new organizations
408 new photos
1234 job history records for people in our database
653 education records for people in our database
1467 contact addresses, emails and URLs (LinkedIn, Facebook, etc.)
3 new people through the revolving door
109 new policy reports
43 new trips to our privately funded travel database
629 new personal financial disclosures
15148 new press releases
11 new town halls
25 new hearings

Caught Our Eye Rss

Some legislators prioritize talk, not action

by Heavyn Lester on 09/23/2024
Former state sen. joins conservative immigration group

by Heavyn Lester on 09/17/2024
Some representatives are burning through their budgets

by Heavyn Lester on 09/16/2024
Burlison hires foul-mouthed comms specialist

by Andy Gottlieb on 09/13/2024
Lobbyist returns to Senate as chief of staff

by Heavyn Lester on 09/12/2024

» More from Caught Our Eye

Follow @LegiStorm

LegiStorm adds House Q2 salaries and expenses

2024-09-05
Latest Senate salary and expense records published

2024-06-10
LegiStorm adds House Q1 salaries and expenses

2024-06-05
LegiStorm adds Q4 salary analytics and turnover data

2024-03-14

» More from our DevBlog

Lobbyists exploit massive loophole to wine and dine lawmakers, aides at fancy getaways

by Politico on 09/22/2024
Vulnerable Dem senator who touts record 'fighting' lobbyists has long history of hiring them

by Fox News on 09/18/2024
Kamala Harris ran her office like a prosecutor. Not everyone liked that.

by The Washingon Post on 09/09/2024
Letter: Van Ostern’s recent flyer

by Concord Monitor on 08/29/2024

Premium Download PDF Now (52 pages)

Report Type	Reports and Testimonies
Report Date	Dec. 18, 1989
Report No.	GGD-90-9BR
Subject	Bonds (securities) Cost control Economic analysis Fees Local governments Proposed legislation Securities regulation State governments Tax exempt status

Summary:

Pursuant to a congressional request, GAO reviewed state and local governments' tax-exempt bond issuance costs and how proposed legislation would affect those costs.

GAO found that: (1) issuance costs from bonds sold to private enterprises in 1985 ranged from 2.2 to 4.1 percent of bond proceeds; (2) bond underwriter spreads comprised 48 to 88 percent of issuance costs, although underwriting spreads decreased by about 40 percent from 1982 to 1988; (3) additional issuance cost limits did not seem justified, since underwriting services were relatively competitive and reasonably priced; (4) the proportion of private enterprise bonds which would have exceeded the proposed cost limits was 44 percent for 1985 and 37 percent for 1986; and (5) the proposed issuance cost limits could reduce state and local governments' bond issuance capabilities, unless bond issuers developed alternative cost distribution and classification methods.

« Return to search Government Accountability Office reports

Weekly Updates

Caught Our Eye Rss

Social Media

DevBlog Rss

In the News

Tax Policy: Tax-Exempt Bond Issuance Costs