This installment of our National P3 Update focuses on transportation. While the transportation sector has dominated the U.S. P3 market over the last decade, the sector has experienced stagnation since the financial close of...more
With all of the talk about the need for infrastructure legislation, public-private partnerships (or “P3s”) are receiving increased national attention. What exactly constitutes a P3 is an ever-evolving question, and the...more
Last week, President Trump unveiled his proposal to fix our nation’s aging infrastructure. While the proposal lauded $1.5 trillion in new spending, it only included $200 billion in federal funding. To bridge this sizable gap,...more
Maintaining the existing authority under the Code for private activity bonds (PABs) is vital to continuing public and private investments in infrastructure that support the economy and essential public services. Such...more
The Situation: Private activity bonds are issued by or on behalf of states and local governments to finance certain private (or partially private) projects that benefit the public. Usually, interest income from bonds issued...more
Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more
State and local governments and 501(c)(3) organizations have been given very flexible guidance by the IRS for longer-term private management of tax-exempt bond financed projects to facilitate general operations and major...more
We all know how hard it is to change federal statutes these days—you need an Act of Congress and the President to sign the bill. Last week, a group of the top public finance lawyers in the US offered an approach relating to...more
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
This week, the Obama administration released its proposed budget for the 2014 fiscal year. Notably, the budget encourages private investment in infrastructure projects through various liberalizations of the tax laws relating...more