The study, commissioned by non-profit The Sunrise Project, attributed the higher costs primarily to reduced competition to underwrite government bonds in six states furthest along in restricting financial firms or considering doing so. The restrictions would mean fewer banks seeking to underwrite municipal bond issuance, a common way for cities to raise money. According to the new study, taxpayers in six states - Kentucky, Florida, Louisiana, Oklahoma, West Virginia and Missouri - could have faced up to $708 million in additional interest charges on municipal bonds over the past 12 months. The study based its analysis on a recent Wharton School of Business paper that found Texas taxpayers could have faced up to $532 million in additional interest payments because of restrictions introduced in that state. Reporting by Tommy Reggiori Wilkes and Ross Kerber; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

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