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IRS Issues Final Regulations Regarding Allocation of Bond Proceeds to Mixed-Use Projects; SLGS Window Reopens

On October 26, 2015, the IRS released final regulations (the “Final Regulations”) regarding allocation and accounting rules for purposes of the private activity bond restrictions applicable to tax-exempt bonds issued by state...more

New IRS Regulations for Mixed-Use Projects Financed With Tax-Exempt Bonds Have Particular Importance for Nonprofit Health Care...

On October 27, 2015 the U.S. Treasury Department and Internal Revenue Service published final regulations concerning the treatment of “mixed-use” projects financed with tax-exempt bonds. These new regulations have particular...more

IRS Releases Final Regulations Facilitating P3s and Mixed-Use Developments, and Remedial Actions

On October 26, 2015, the Internal Revenue Service released final allocation and accounting regulations (the Final Regulations) under Section 141 of the Internal Revenue Code of 1986, as amended (the Code) related to...more

At Long Last – Allocation and Accounting Rules

Good things come to those who wait. The tax-exempt bond industry has waited 18 years for a missing reserved section of the private activity bond regulations, the allocation and accounting regulations, Treas. Reg. Section...more

Russia’s New Advanced Development Territories Law: Far East Focus

An initiative to spur investment in this underdeveloped region. Amid the ongoing loud noise surrounding the situation in Ukraine (and in Syria) and the related sanctions and counter-sanctions, a new Russian development...more

New IRS Regulations for Mixed-Use Projects Financed With Tax-Exempt Bonds Have Practical Importance

On October 27, 2015 the U.S. Treasury Department and Internal Revenue Service published final regulations concerning the treatment of “mixed-use” projects financed with tax-exempt bonds. These new regulations have significant...more

Redevelopment Strikes Back

After several failed attempts in previous years, the Legislature passed and the Governor signed AB 2 (Alejo) on September 22, 2015. (Stats. 2015, ch. 319.) AB 2 authorizes a new structure for tax increment financing—the...more

Appellate Court Upholds TIF District Levy and Collection of Taxes

The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more

Illinois Court Upholds TIF District Levy and Collection of Taxes

An Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district through the Tax Increment Allocation Redevelopment Act, (Devyn Corp v. City of Bloomington)....more

Redevelopment 2.0... This Time for Real!

AB 2 Appears to be the Long-Awaited Redevelopment Replacement Law - Since the demise of redevelopment in 2012, and the assurance of a “replacement” by Gov. Jerry Brown, we have been waiting. We saw valiant efforts by...more

Supreme Court Decision May Make It Easier for Borrowers to Sue for Discrimination

A recent decision of the Supreme Court of the United States may make it easier for borrowers to claim discrimination when denied a loan. In late June 2015, the Court addressed whether lawsuits brought under the Fair Housing...more

Overview of Key Legislative Amendments in Relation to Special Economic Zones Issues

On 9 September 2015 the Mazhilis of Parliament of the Republic of Kazakhstan approved at the first reading the draft law "On Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan...more

NC Legislative Update for July 2015 #2

This Week - After a week-long summer recess, lawmakers returned to Raleigh to resume the business of the State. The House finally appointed budget Conferees on Tuesday, nearly a month after receiving the Senate version...more

Alabama Tax Legislative Summary: 2015 Regular Session; Some Unofficial Predictions For Upcoming Session(s)

The Alabama Senate adjourned late Thursday afternoon, June 4, leaving a number of pending bills on the table. Although the legislature passed a record-setting $6 billion Education Trust Fund budget, the issue that pervaded...more

House Bill 15-1348-Urban Renewal – Frequently Asked Questions

H.B. 15-1348 was signed by the Governor on May 29. The bill enacts several changes related to urban renewal authorities and tax increment financing for such authorities including governance changes and changes related to how...more

South Carolina Legislative Update

The South Carolina General Assembly will wrap-up session this Thursday, but will return the week of June 16th for the limited purpose of deliberating gubernatorial vetoes, appointments, local legislation, conference committee...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Budget Work Continues, Gains Momentum in Appropriations - As the clock ticks towards the...more

Bill Would Create New Category of Tax-Exempt Bonds, Tax Credits for P3 Projects

On May 4, 2015, U.S. Senate Finance Committee Ranking minority member Ron Wyden, an Oregon Democrat, and Senator John Hoeven, a Republican from North Dakota, introduced legislation entitled the "Move America Act of 2015,"...more

Reinstatement of a LIHTC LURA following foreclosure

Note: This post is the final part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

Enhanced Infrastructure Districts: A Flexible New Tool for Local Governments

After the dissolution of California redevelopment agencies (RDAs) in 2011, many local governments desired a tool to raise capital to invest in infrastructure and community revitalization. On September 29, 2014 SB 628 was...more

El Paso RAD transaction converting 1,590 units at 13 sites closes

On April 9, 2015, the Housing Authority of the City of El Paso (HACEP) and its development, private equity and lending partners closed Phase I of the largest Rental Assistance Demonstration (RAD) project in the country. Hunt...more

Innovation Districts

Last year representatives of a coalition of 11 organizations started meeting to discuss the continued development and expansion of Oklahoma City’s bioscience and technology sectors. Among other matters, the group discussed...more

Court Sustains Treasury’s 2/3 Reduction of Cash Grant for Cogen Open-Loop Biomass Plant

The United States Court of Federal Claims on January 12 rendered an opinion in W.E. Partners II, LLC v. U.S. sustaining the Treasury Department’s reduction by approximately two-thirds of a Cash Grant for a cogeneration...more

New Laws of 2015: New Tax Infrastructure Financing Tools

The final article in the New Laws of 2015 series focuses on new legislation that makes it easier for municipalities and special districts to harness tax increment — the future incremental growth in property tax revenues — for...more

SB 628: Investing Tax Increment in Infrastructure and Economic Development

It will be slightly easier for municipalities and special districts to harness the tax increment for financing infrastructure projects under Senate Bill 628. Infrastructure Financing Districts, which have existed in...more

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