Engineering Inc. - March/April 2014 - (Page 4)
Legislative Action
ACEC Endorses Bipartisan
Infrastructure Legislation
SEC Delays
Municipal Advisor
Rule
H
ouse Transportation
& Infrastructure
Committee Chairman
Bill Shuster (R-Pa.) expects the
committee to unveil and pass
a MAP-21 reauthorization bill
in late spring or early summer.
He said the House needs to
approve the surface transportation bill before August in order
4
ENGINEERING INC.
MaRCh / apRIl 2014
to negotiate a final bill with
the Senate before the current
law expires Sept. 30.
Shuster's key principles for
the bill include fiscal responsibility, more project delivery
reforms, funding flexibility for
state and local agencies and a
focus on freight mobility.
ACEC is collaborating with
Rep. Bill Shuster (R-Pa.)
Shuster and committee leadership to ensure the bill contains
specific Council priorities,
including long-term robust
funding and contracting-out
provisions.
U.S. Secretary of Transportation Anthony Foxx
announced that the Highway
Trust Fund might face cash
BREnDAn SMiAlowSki/AFP/gETTy iMAgES
AP PhoTo/J. SCoTT APPlEwhiTE
T
he Securities and Exchange Commission (SEC) has pushed the effective
date of its final municipal advisor
registration rule back to July 1, after receiving numerous questions about the rule from
ACEC and other organizations.
The Dodd-Frank financial services reform
law requires firms and individuals providing
advice to municipalities on the
issuance of municipal
securities or other
financial products
to register with the
agency. The law
includes an exemption for engineering firms providing
engineering advice.
ACEC has engaged
with the SEC over the
past three years to help the
agency understand the services engineers
provide, including a recent meeting between
SEC staff and ACEC Member Firms.
The Municipal Securities Rulemaking
Board (MSRB) has proposed a related rule
on fiduciary duty for municipal advisors, and
ACEC is in the process of developing comments. Additional rules from the MSRB are
expected on topics such as restrictions on
political contributions and qualifications for
municipal advisers.
Shuster Anticipates New Transportation Bill;
More Revenues Needed for Trust Fund
Bill ClARk/CQ Roll CAll/gETTy iMAgES
JuliA SChMAlz/BlooMBERg viA gETTy iMAgES
S
ens. Michael Bennet (D-Colo.) and
Roy Blunt (R-Mo.) have introduced
the Partnership to Build America Act,
an ACEC-backed bill that would create a
$50 billion national infrastructure financing
authority.
The legislation "offers an innovative
approach to solving a big problem," wrote
ACEC President Dave Raymond in a letter to
the bill's sponsors. "The American Infrastructure Fund will help to unlock private capital
to advance projects at the state and local level
that often cannot be undertaken under traditional funding due to their size, complexity
and cost."
Sen. Roy Blunt (R-Mo.)
The fund would provide loans, loan guarantees and other financing to state and local
governments and public-private partnerships. Eligible projects include transportation, water, energy, telecommunications and education facilities. The fund's initial
capital would come from the one-time repatriation of overseas corporate earnings
at a lower tax rate.
Eleven senators have
already co-sponsored the
Sen. Michael Bennet (D-Colo.)
bill (S. 1957), including six Republicans,
four Democrats and one
Independent. The bill is
a companion to legislation introduced by Rep.
John Delaney (D-Md.)
in the House, which has
garnered more than 25 cosponsors from each party.
Table of Contents for the Digital Edition of Engineering Inc. - March/April 2014
Engineering Inc. - March/April 2014
Contents
From ACEC to You
Legislative Action
Market Watch
U.s. Transportation Secretary Anthony Foxx
States of Repair
Centers of Comings and Goings
All Access
Into Africa
Power of the PAC
2014 Annual Convention Preview
Business Insights
Guest Column
Members in the News
Mergers and Acquisitions
Engineering Inc. - March/April 2014
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