Finance

The legislation complements the federal CHIPS and Science Act that was recently signed by President Joe Biden. The could provide up to $10 billion in tax credits for semiconductor manufacturing projects over a 20-year period.

Roads and water infrastructure top the list of local priorities, but broadband expansion and clean energy projects are proving popular as cities face increased demand for these newer technologies.

U.S. Sen. Sherrod Brown, D- Ohio, who has consistently pushed to move the legislation through the Senate, said the legislation will have a lasting impact on his home state and reduce U.S. reliance on overseas chipmakers.

Duncan Public Utilities Authority trustees have approved the funds to patch the city’s current smart meter system, which officials say is obsolete. A replacement system is set to be installed in 18 months.

The city of Barbourville has been awarded the nonprofit’s 2022 Cybersecurity Grant to help implement additional safety protocols and programs, such as multifactor authentication, advanced threat protection, and endpoint detection and response.

The latest acquisition for OpenGov involves a company whose software helps public agencies with capital planning, infrastructure maintenance and related tasks. The deal reportedly gives OpenGov a $1.25 billion valuation.

Last week the California Fair Political Practices Commission passed a resolution allowing cryptocurrencies to be used as donations for political campaigns. The move reverses its earlier decision to ban digital currencies.

Texas-based Ryan, which sells tax services and software, is beefing up its government business while also making a bigger play for the Canadian market. The deal follows a similar acquisition in late 2021.

As affordable cyber insurance becomes more elusive, experts are reminding governments that insurance is only one piece of the puzzle and urging them to focus first on investing in cyber defenses.

The majority of the federal funds, around $11.2 billion, will go to the Defense Department, while $2.9 billion will go to the Cybersecurity and Infrastructure Security Agency to bolster U.S. cyber defenses.

Industry experts point out several concerns regarding the use of digital currencies for campaign donations. The issues of transparency, market volatility and a lack of regulations are among the key concerns.

Local government agencies like Houston METRO look to make wise use of funding coming from the Infrastructure Investment and Jobs Act to strengthen existing assets while innovating for the future.

Promise, which focuses on delinquent payments, has selected Paya as a partner as both companies try to help governments collect what they’re owed. Such debt grew significantly during the pandemic as citizens lost income.

A $100,000 emergency procurement package – containing two vendor agreements – was unanimously passed this week to mitigate a “network security incident” that affected 85 county computers.

The Detroit City Council has delayed action on a proposed expansion of the ShotSpotter gunshot detection system. The proposed expansion would cost $7.5 million with an additional $1.5 million to renew the existing contract.

Federal cybersecurity grants are expected “in the coming months,” with CISA still mulling feedback and finalizing. Local governments should use the time to ensure they’re part of any state planning processes.

The recent bipartisan infrastructure bill was massive, allocating $1.2 trillion to a wide variety of projects. To help people find the work they’re interested in, McKinsey has released a new free tool.

As insurance costs and requirements rise, some municipalities are looking to self-insurance and service providers’ cyber incident warranties to help in cases of ransomware and other incidents.