Earlier this year, Pennsylvania adopted legislation permitting the establishment of "City Revitalization and Improvement Zones" in select cities in the Commonwealth. Once established, certain tax payments from businesses in...more
Pursuant to the requirements of the Budget Control Act of 2011 and the American Taxpayer Relief Act of 2012, on March 1, 2013, President Obama signed an Executive Order reducing the budgetary authority in accounts subject to...more
For the first time, the Securities and Exchange Commission has charged a municipal bond issuer with securities fraud for falsely claiming that it was compliant with annual disclosure obligations....more
Certain payment models created under the Patient Protection and Affordable Care Act intended to coordinate care and lower healthcare costs raise questions concerning the tax-exempt status of debt issued by certain healthcare...more
In This Issue:
- SEC Charges Municipal Bond Issuer with Securities Fraud for Misleading Statements on Issuer’s Website
- State v. Brown Affords Managers in the Mortgage Processing Industry a Cautionary Tale
For the first time, the Securities and Exchange Commission has charged a municipality with securities fraud for misleading statements made outside of the municipality's securities disclosure documents....more
The Commonwealth Financing Authority has begun accepting applications for five programs established by the Act 13 Marcellus Legacy Fund to support conservation projects and environmental protection measures.
An Executive Order signed by the President on March 1, 2013 will trigger automatic reductions in subsidy payments for certain Direct Pay Bonds.
Pursuant to the requirements of the Budget Control Act of 2011 and the...more