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