On June 3, 2020, the Federal Reserve Board announced an expansion in the number and type of Eligible Issuers authorized to use the Municipal Lending Facility (MLF) program. Eligible Issuers now include “Designated Cities,”...more
On May 18, 2020 the New York Federal Reserve released additional information regarding the Municipal Liquidity Facility (MLF) program, including (i) a sample application to the MLF program and (ii) multiple form documents...more
This alert updates and replaces an April 10, 2020, alert based on an April 27 Federal Reserve Board announcement that expanded the scope and duration of the Municipal Liquidity Facility (MLF). Any capitalized terms used in...more
On April 9, 2020, U.S. Treasury Secretary Steven T. Mnuchin approved the establishment of a Municipal Liquidity Facility (MLF) aimed at helping the flow of credit to states, counties and cities impacted by the COVID-19...more
The advent of Opportunity Zones (OZ) offers players in the private finance and real estate communities a new way to enjoy tax incentives while helping economically distressed areas. Recently, the IRS and the Treasury...more
6/28/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Low Income Housing ,
Low-Income Issues ,
Opportunity Zones ,
Qualified Opportunity Funds ,
Real Estate Development ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives
On April 17, 2019, the Department of Treasury and Internal Revenue Service released another set of proposed regulations on the Opportunity Zone (OZ) tax benefit. Until recently, many investors, funds, business owners and real...more
With the release of the Opportunity Zone proposed regulations, potential investors and funds eagerly awaiting this guidance began moving into the next phase of a plan to inject capital into low-income communities. Department...more
On Oct. 19, the IRS and Treasury Department issued proposed regulations and a Revenue Ruling as the first part of its long-anticipated guidance package regarding the Opportunity Zone program. Enacted at the end of last year...more
President Trump issued an Aug. 15 Executive Order titled "Establishing Discipline and Accountability in the Environmental Review and Permitting Process for Infrastructure Projects," seeking to streamline the approval process...more
Nearly two weeks ago, Congress passed the omnibus Consolidated Appropriations Act, 2016 (the “Omnibus Bill”), and the Protecting Americans from Tax Hikes Act of 2015 (the “Act”), both parts of a package that President Obama...more
Beating its self-imposed June deadline by one business day, the U.S. Environmental Protection Agency proposed “renewable volume obligations” (RVOs) for 2014-2016 under the Renewable Fuel Standard (RFS) program last Friday. ...more
On March 25, 2015, Virginia Governor Terry McAuliffe signed into law Chapter 389 of the 2015 Acts of Assembly (the Amendments). The Amendments modify Virginia's existing laws regarding property assessed clean energy (PACE)....more
Yesterday, March 11, 2015, the Internal Revenue Service issued Notice 2015-25, which extends by one year certain tests taxpayers can use to establish that a qualifying renewable energy facility is eligible for the production...more
With close to $1.4 billion in volume cap for New Clean Renewable Energy Bonds (New CREBs) remaining, Notice 2015-12 (the 2015 Notice) announces the March 5 opening of the rolling volume-cap application window for governmental...more
Qualified Zone Academy Bonds
- The Act authorizes the Secretary of the Treasury to allocate an additional $400 million in QZABs for 2014. Prior to the Act, no additional allocations of QZABs were to be available to the...more