When the 117th Congress concluded in December 2022, the municipal market was quite surprised by a little-known provision riding along on the National Defense Authorization Act. And yet, the Financial Data Transparency Act will not only radically transform the technology for financial reporting, but also insert the federal government as rulemakers in state and local government financial reporting. There is no doubt that this effort will require substantial outreach to federal government over the next several years. Come to this session to understand the concepts, the processes, and the opportunities for this needed outreach.