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Pennsylvania Senators Introduce New Municipal Debt Reform Bills

Pennsylvania State Senators John Blake, John DiSanto, and Mike Folmer recently introduced a trio of new municipal debt reform bills that follow on the package of reform bills introduced in the Senate in March. The new bills –...more

Bills Introduced in General Assembly Targeting Sanctuary Jurisdictions

A pair of bills has been introduced in the PA House of Representatives and State Senate that would deny state grants and other benefits to “sanctuary jurisdiction” municipalities, colleges and universities....more

SEC Announces Enforcement Actions Against 71 Municipal Issuers

The Securities and Exchange Commission (SEC) recently announced enforcement actions against 71 municipal issuers of bonds in connection with the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative. The...more

IRS Loosens Restrictions on Safe Harbors for Management Contracts for Bond-Financed Property

The Internal Revenue Service, in Revenue Procedure 2016-44, has loosened the restrictions on safe harbors for management contracts entered into by governmental issuers of tax-exempt bonds in connection with facilities...more

MSRB: No Attempts to Mandate Bank Loan Disclosure…For Now

Following its July 27-28, 2016 quarterly board meeting, the Municipal Securities Rulemaking Board (MSRB) has announced that it will not pursue new regulations to mandate disclosure of bank loan information by municipal...more

8/2/2016  /  EMMA , Loans , MSRB , Voluntary Disclosure

Pennsylvania 2016-2017 Budget Revives Brewers’ Tax Credit – With A Catch

Pennsylvania Governor Tom Wolf recently signed into law the last piece of the 2016-2017 budget picture: House Bill 1198, the revenue package to pay for the spending previously approved by the House and Senate and which became...more

Christmas Comes Early for the Pennsylvania Liquor Industry: Governor Wolf Signs Liquor Modernization Bill into Law

Christmas has come early in 2016 for the Pennsylvania wine, liquor and malt or brewed beverage industry: on June 8, Governor Tom Wolf signed House Bill 1690 in law. While the bill does not provide for the privatization of the...more

Continuing Disclosure Information Reporting Deadline Draws Near

Municipalities, school districts, and other public entities that borrow money – whether through public offerings of bonds or private bank loans – generally are required to provide updated financial and operational information...more

Public Utility Companies Look to Gobble up Municipal Systems through Private Sales

Large privately held, publicly regulated utility companies with a focus on rapid growth and expansion throughout the Commonwealth have a new target - municipally owned water and wastewater systems. Pennsylvania legislation...more

Distribution Agreements in Pennsylvania: Til Death Do Us Part

One of the most exciting moments in the existence of a new brewery is the moment you ink your very first distribution agreement. Yes, you never forget your first: you’ve arrived, you’re now part of the Show, and now you’re...more

The Stimulus Shall Continue: IRS Gives OK to Current Refundings of Recovery Zone Facility Bonds

The Internal Revenue Service has announced in Notice 2014-9 that current refunding issues of Recovery Zone Facility Bonds qualify as tax-exempt provided that the current refunding issue meets certain requirements. Generally,...more

Starting a Craft Brewery: Business Tips for the New Entrepreneur

The Craft Brewing Industry is booming in America. According to the Brewers Association, since 2000, the number of craft breweries operating in the U.S. has increased by more than two-thirds. Over 2,500 craft breweries...more

Pennsylvania Senate Local Government Committee Advances Amended Municipal Financial Reform Legislation

On October 22, 2013 the Pennsylvania Senate Local Government Committee voted unanimously to move an amended version of Senate Bill 901, the vehicle for municipal financial reform, out of committee for consideration by the...more

Pennsylvania Senate Local Government Committee Advances Bill No Longer Banning, But Limiting Municipal Interest Rate Swaps

On October 22, 2013 the Pennsylvania Senate Local Government Committee moved an amended version of Senate Bill 903 out of committee for consideration by the full Senate. Senate Bill 903 originally would have prohibited...more

10/25/2013  /  DCED , Interest Rates , Municipalities , Swaps

Bipartisan Group of Senators Advance Additional Municipal Debt Reform Legislation

A bipartisan group of Pennsylvania Senators led by Senators John Eichelberger (R) and Rob Teplitz (D), the majority and minority chairs of the Senate’s Local Government Committee, and including Senators Mike Folmer (R) and...more

The SEC Action Against the City of Harrisburg: Lessons for Other Municipalities

The Securities and Exchange Commission ("SEC") recently announced that it has charged the City of Harrisburg with violations of various anti-fraud provisions of federal securities laws in connection with the resource recovery...more

Five Things To Know When Contemplating the Issuance of Municipal Debt

Municipal financings are often perceived as a very complex, and even overwhelming, undertaking. The various rules and regulations which govern the process oftentimes seem complicated and difficult to understand. Keep in mind...more

Municipal Debt Reform Legislation Introduced in State Senate

Originally published in The Legal Intelligencer on February 26, 2013. A package of reform-minded bills has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others that, if enacted,...more

3/4/2013  /  Bonds , Debt , Municipalities , Swaps

Commonwealth Court Confirms Use of Appeal Filing Date as Valuation Date for Real Estate Assessment Appeals

The Commonwealth Court has held that the proper date of valuation in an Allegheny County assessment appeal is the appeal filing date, not the first day of the tax year under appeal. The school district had appealed the...more

PA Tax Law News - February 2013

In This Issue: PA Governor Proposes Corporate Tax Cuts; Add-Back Legislation Reintroduced; PA Supreme Court Issues Business/Nonbusiness Income Decision; Philadelphia Property Reassessments; Commonwealth Court Addresses...more

Senate Proposal Would Dramatically Change Process for DCED Approval of Municipal Debt

A bill has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others which would, among other things, dramatically change the process by which municipal financings are reviewed by the Department...more

PA Tax Law News -- December 2012

In This Issue: PA Supreme Court Affirms Sales Tax Exemption for “CHEP” Pallets; Promoting Employment Across Pennsylvania Act; Fuel Tax Update; Delaware & New Jersey Abandoned & Unclaimed Property Developments; Filed a...more

11/26/2012
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