The MSRB filed amendments to MSRB Rule G-45 (Reporting of Information on Municipal Fund Securities) to delay reporting of information concerning underwriters of programs under the Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014 (the "ABLE Act" and an "ABLE Program"). The amendments would delay reporting until August 29, 2018.

The ABLE Act added Section 529A to the Internal Revenue Code of 1986, as amended (the "Code"), to permit a state, or an agency or instrumentality thereof, to establish and maintain a new type of tax-advantaged savings program to help support individuals with disabilities in maintaining health, independence, and quality of life. Section 529A was modeled on Section 529 of the Code, which, in part, established 529 college savings plans to encourage saving for future higher education costs.

The rule amendments affect requirements under (i) MSRB Rule G-42 (Duties of Non-Solicitor Municipal Advisors) applying to municipal advisors that engage in municipal advisory activities for sponsors or trustees of ABLE Programs, and (ii) MSRB Rule G-44 (Supervisory and Compliance Obligations of Municipal Advisors) applying to municipal advisors that engage in municipal advisory activities for sponsors or trustees of 529 college savings plans, ABLE Programs, and other municipal fund securities.

The MSRB noted that the current due dates under Rule G-45 for submissions from underwriters of tax-advantaged college savings plans established under Section 529 of the Code remains unchanged.

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