News & Analysis as of

Build America Investment Initiative Bonds

Dorsey & Whitney LLP

The Advantage of Crossover Refunding of Build America Bonds

Dorsey & Whitney LLP on

Many governmental entities considering an advance refunding of their Build America Bonds (“BABs”) can achieve a better economic result by using a crossover refunding. While an advance “net” refunding typically results in a...more

McGuireWoods LLP

Tax Policy Update

McGuireWoods LLP on

The number of working days (in theory) that Congress has left to negotiate and pass a continuing resolution (CR) that would keep the government from shutting down on Oct. 1. Here’s hoping that the Pope’s visit to the Capitol...more

Mintz - Public Finance Viewpoints

Off-Key BABs: IRS Hits Wrong Note in Reissuance Analysis

The IRS recently published a December 9, 2014 Chief Counsel Advice Memorandum to the effect that the defeasance of taxable Build America Bonds (BABs) causes a tax reissuance of the bonds, with the consequence that the...more

Ballard Spahr LLP

Draw down bonds and date of issuance: questions remain with IRS guidance

Ballard Spahr LLP on

For many years multifamily housing apartment projects could be financed with tax-exempt drawn-down bonds and loans with all of the bonds issued pursuant to a draw-down loan being treated as part of a single issue. The date of...more

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