Federal Government Relations - GFOA's Federal Liaison Center Our Mission:The mission of the Federal Liaison Center is to inform GFOA members about federal legislation, regulations, judicial actions, and policies that affect public finance functions and to represent the interests of GFOA in Washington, DC. Center staff collects, analyzes, and disseminates information to GFOA members and provides policymakers with information on GFOA positions.
The center's activities include participating in many working groups with other state and local organizations on issues of importance to GFOA members including: public financing, tax, pension and benefits, and banking issues. We maintain close working relationships with many regulatory agencies including the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS), the Municipal Securities Rulemaking Board (MSRB), and have constant dialogue with other organizations such as the National Association of Counties (NACo), the National League of Cities (NLC), the National Governors Association (NGA), and the National Association of State Treasurers (NAST).
Information about legislation that is closely monitored and GFOA's positions on issues may be found on this Web page.
The Federal Liaison Center coordinates the efforts of GFOA's seven standing committees, the Women's Network, the Black Caucus, and the FOCAL Team. To learn more about these groups, please click on these sections below.
We always appreciate and would like your input and suggestions about the GFOA's Washington activities. Please e-mail Susan Gaffney with your ideas. Recent News Items IRS Finalizes 3% Withholding Rules - Delays Implementation Until 1/1/13 | On May 6, the IRS finalized regulations (REG-151687-10) for the implementation of Section 511 of the Tax Increase Prevention and Reconciliation Act of 2005 (P.L. 109-222), which calls for the federal government, all states, and those local governments that spend more than $100 million a year on goods and services to withhold 3% of all payments made to vendors and remit that 3% to the IRS.
Most importantly, the regulations, delay implementation of the law for one year, until 1/1/13. Payments made after this date, will need to adhere to the law's requirements. The regulations also exempt any single payment under $10,000 from the law's requirements. An overview of regulation may be found here.
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FCC Issues Notice of Inquiry on Rights of Way and Compensation - Member Call to Action
| The Federal Communications Commission (FCC) issued a Notice of Inquiry (NOI) on April 7, 2011 that seeks to obtain detailed information regarding local governments’ rights of way management and compensation practices and policies. The responses to the NOI will undoubtedly have far-reaching implications for localities around the country. The questions posed by the FCC directly challenge local governments’ land use authority and, depending on the responses and how they are interpreted, could significantly affect local governments’ ability to manage and collect compensation for use of the public rights of way. To assist communities in responding to the FCC’s questions, the GFOA and other national associations representing the interests of local governments have created a template to use when filing comments. Initial comments are due to the FCC by July 18, 2011. Reply comments are due by August 30, 2011. Click to access the filing instructions and the template.
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| Federal Involvement in State and Local Government Financial Disclosure is an Unnecessary Mandate | In response to suggestions made by a member of the U.S. Securities and Exchange Commission(SEC) that Congress should require state and local governments to follow corporate style financial reporting and disclosure, GFOA Executive Director/CEO, Jeffrey L. Esser issued a statement indicating that GFOA will strongly oppose such a federal mandate. Read More |
Deficit Commission Report Proposes Eliminating Tax-Exempt Bonds | President Obama’s National Commission on Fiscal Responsibility and Reform released their report, The Moment of Truth, on December 1 which addresses ways to reform the federal tax code, Social Security and reduce the nation’s deficit. Read More |
Overview: Wall Street Reform and Consumer Protection Act | |
3% Withholding Requirement on Government Payments
New 1099 Reporting Requirements
2008 IRS Taxable Fringe Benefits Guide for Federal, State and Local Governments SEC/MSRB Proposed Rules for Disclosure Document Central Repository Rental Car Tax Preemption GFOA American Recovery and Reinvestment Act (ARRA) Resource CenterThe American Recovery and Reinvestment Act calls for recipients of funds to submit their reports by the close of the 10th day of the reporting period (January 10, 2011 for current reporting cycle). However, FederalReporting.gov will remain open from January 1, 2011 to January 14, 2011. Reports entered into the system from January 11, 2011 to January 14, 2011 will not be flagged as late. Learn more at www.FederalReporting.gov. Red Flags Rule Became Effective December 31, 2010 - Click here for information from the FTC’s Web site
U.S. Supreme Court: States Can Keep Current Tax Policies on Muni Bonds Municipal Bond Market IssuesUniform Ratings Material Event Notices/Bond Issuer Downgrades
General Issues Guidance on Auction Rate Securities/Reissuance
SEC Proposal to Extend Authority over Disclosure Practices and Governmental Accounting
Delisting Cell Phones as Taxable Fringe Benefit Property Telecommunications Reform Collection of Remote Sales Tax Public Pension Reform Excise Tax Penalties Applied to State and Local Government Financings Tax-Exempt Bonds
• NABL/GFOA draft tax compliance checklists submitted to Treasury
Central Post Office for Disclosure Filings: www.disclosureusa.org
Social Security Collecting Delinquent Revenues from Debtors' Federal Tax Refunds Fair Labor Standards Act - OSHA Amicus Briefs Proposed Regulations and Guidance on Medicare Prescription Drug Issues Policy StatementsThe Government Finance Officers Association's public-policy positions are developed by the GFOA standing committees, approved by the GFOA Executive Board, and adopted by the GFOA membership at the annual business meeting held in conjunction with the GFOA Annual Conference.
This section is be updated regularly to include new or modified policies. The GFOA's Federal Liaison Center is responsible for compiling the policies. Inquires about GFOA policies should be sent to:
GFOA Federal Liaison Center,
1301 Pennsylvania Avenue, N.W., Suite 309
Washington, D.C. 20004
202-393-8020 (Phone)
202-393-0780 (Fax)
Email
Click here for more information.
Issue Briefs- Federal FY 2012 Budget
- Alternative Minimum Tax & Tax-Exempt Bonds
- Arbitrage Rebate
- Bank Deductibility
- Brownfields
- Cash Management Improvement Act
- Communications Reform
- Credit Card Fees and Surcharges
- Corporate Governance & Accounting Reforms
- Employer-provided Vehicle and Transportation Fringe Benefits
- Fair Labor Standards Act
- FDIC Reform
- FEMA Grants Administration
- Health Care Reform
- Homeland Security
- Mandatory Social Security
- Municipal Market Regulations
- Non-Governmental Bonds
- Pension and Retirement Savings Reform
- Private Activity Bond Volume Caps
- Small Issuer Arbitrage Rebate Exception
- Social Security Protection Act
- Sports Facilities Financing
- State Revolving Loan Funds
- Collection of Taxes on Purchases Made Over the Internet
- Surface Transportation Funding
- Tax Credit Bonds
- Tax-exempt Bonds
- Tax Issues Impacting State/Local Governments
- Tax Reform
- Terrorism Insurance
- Unfunded Mandates
- Withholding Requirement on Government Payments
- Yield Burning
- Proposal Contained in the President’s FY 05 Budget: Leasing Transactions with Tax-Indifferent Parties and the Subsequent Manager’s Amendment to S. 1637
Contacting Members of Congress LinksThe Federal Liaison Center works with the following organizations and government entities to enhance our efforts in Washington.
Click here for more links FOCAL TeamGFOA's Finance Officers Calling for Action on Legislation (FOCAL) Team consists of finance officers in every state who are in direct contact with their congressional representatives any time an issue affecting state and local jurisdictions is being considered. FOCAL Team members play a proactive role in GFOA's advocacy efforts, and the FOCAL Team is an important, effective way for members to participate in strengthening the public finance profession.
Click here for more information Standing CommitteesClick here for more information Special Interest GroupsClick here for more information.
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