News & Analysis as of

Tax-Exempt Bonds Safe Harbors

Venable LLP

IRS Ruling Provides Insights on Compensation Options for Managers of Tax-Exempt Bond-Financed Hotels, CCRCS and Similar Facilities

Venable LLP on

​​​​​​​Facilities owned by nonprofits and government entities are frequently financed with tax-exempt bonds and managed by for-profit management companies. To avoid tainting the tax-exempt status of the interest payable on...more

McNees Wallace & Nurick LLC

Considering a Temporary Deferral on a Tax-Exempt Obligation? Don’t Forget About the Reissuance Rules

COVID-19 has rightfully dominated the news over the last several weeks, leaving municipalities, nonprofit organizations and businesses scrambling to determine the impact of this pandemic on, among other things, their...more

Bracewell LLP

An Alternative Structure for Certain P3 Projects – The 63-20 Financing

Bracewell LLP on

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

Foley & Lardner LLP

An Update on Implementation of New Management Contract Safe Harbors for Property Financed with Tax-Exempt Bonds

Foley & Lardner LLP on

In the past few years, the IRS has changed its guidance on whether “management contracts” result in private business use for purposes of the restrictions on use of property financed with tax-exempt bonds. This update...more

Bracewell LLP

IRS Provides Issuers Of Tax-Advantaged Debt with New "DIY" Tools to Fix Nonqualified Use

Bracewell LLP on

On April 11, 2018, the IRS released Revenue Procedure 2018-26 (“Rev. Proc. 2018-26”), which provides an expansion of the remedial actions available to issuers of tax-advantaged bonds. Specifically Rev. Proc. 2018-26 provides:...more

Mintz - Public Finance Viewpoints

IRS Expands Remedial Action for Nonqualified Use of Tax-Advantaged Bonds

The IRS on April 11, 2018 released Revenue Procedure 2018-26 (Rev. Proc. 2018-26), which expands remedial action options in connection with certain post-issuance leases to private parties of facilities financed with...more

Ruder Ware

Simple IRA Retirement-saving Solution

Ruder Ware on

Originally published on Badger Common'Tater - November 2017 Workplace retirement programs play an important role in attracting and retaining employees, helping workers (and owners!) save, and provide significant tax...more

McDermott Will & Emery

Bond-Financed Hospitals Must Apply New IRS Rules to Service Contracts

After nearly two decades of restructuring service agreements to comply with Internal Revenue Service safe harbors, hospitals and other 501(c)(3) organizations are now subject to a new set of guidance and a single safe harbor...more

Orrick, Herrington & Sutcliffe LLP

Outline for Discussion of New Issue Price Rules

New tax rules relating to establishing the issue price of publicly offered tax-exempt bonds become effective soon. This outline describes the new issue price rules, provides a high-level strategic analysis to help guide a...more

Polsinelli

IRS Guidelines Provide Greater Flexibility to Nonprofit Borrowers

Polsinelli on

New guidelines from the Internal Revenue Service substantially overhaul safe harbors that have existed for 20 years. Specifically, the IRS recently released Revenue Procedure 2017-13 (“Rev. Proc. 2017-13”), which establishes...more

Holland & Knight LLP

IRS Expands Management Contract Guidelines for Projects Financed with Tax-Exempt Bonds

Holland & Knight LLP on

The Internal Revenue Service (IRS) earlier this year released Rev. Proc. 2017-13 (the Guidelines), which contained new safe harbors for qualified management contracts relating to facilities financed with tax-exempt bonds. The...more

Sherman & Howard L.L.C.

Public Finance Advisory: IRS Releases Clarifying Management Contracts Rules

For the third time in as many years, the Internal Revenue Service (the “IRS”) has issued guidance for determining whether a management contract will result in private business use for property financed with governmental or...more

Dickinson Wright

IRS Issues New Guidelines for Qualified Management Contracts for Facilities Financed with Tax Exempt Bonds

Dickinson Wright on

Health care providers with facilities financed with tax exempt bonds need to be aware of recent changes to the IRS rules for qualified management contracts. On August 22, 2016, the IRS issued Rev. Proc. 2016-44 which...more

Roetzel & Andress

IRS Eases Safe Harbor Conditions Under Which a Contract with a Hospital Will Not Result in Private Business Use of Tax-Exempt...

Roetzel & Andress on

Under federal income tax law, the tax-exempt status of a bond is jeopardized if the proceeds of the bond are used for a private business use. Because hospital facilities are often financed with tax-exempt bonds, hospital...more

Jackson Walker

Rev. Proc. 2016-44: Greater Flexibility in IRS Safe Harbor for Management Contracts

Jackson Walker on

Recently, the IRS released a safe harbor from private use of tax-exempt bond-financed facilities for management contracts that profoundly changes the safe harbors that have been in place under Rev. Proc. 97-13 for almost 20...more

Kelley Drye & Warren LLP

IRS Continues Trend of Flexibility for Qualified Management Agreements (QMA’s) for Hotels Financed With Tax Exempt Bonds

The US Internal Revenue Service (IRS) recently continued a trend of pronouncements further extending flexibility in structuring a Qualified Management Agreement (QMA) for a hotel financed with tax exempt bonds without...more

Cozen O'Connor

IRS Releases Guidance on Management Contracts

Cozen O'Connor on

Revenue Procedure 2016-44 replaces the long-standing safe harbors in Revenue Procedure 97-13 for analyzing private business use under management contracts with a more flexible safe harbor, but requires specific provisions in...more

Sherman & Howard L.L.C.

IRS Issues New Management Contract Safe Harbors

On Monday, August 22, the Internal Revenue Service (“IRS”) issued Revenue Procedure 16-44 (“Rev. Proc. 16-44”), which revises and expands the safe harbor provisions for long-term management contracts relating to property...more

McCarter & English, LLP

New Management Contract Safe Harbors

The Internal Revenue Service (the “IRS”) released Revenue Procedure 2016-44 (“Rev. Proc. 2016-44”) on August 22, 2016 to provide new safe harbors for management contracts to avoid characterization of such contracts as private...more

McNees Wallace & Nurick LLC

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

Ballard Spahr LLP

New IRS Management Guidance is Flexible, Furthers P3s

Ballard Spahr LLP on

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

Foley & Lardner LLP

IRS Publishes New Management Contract Safe Harbors for Property Financed with Tax-Exempt Bonds

Foley & Lardner LLP on

On August 22, 2016, the Internal Revenue Service (IRS) released Rev. Proc. 2016-44, which provides new guidance on the treatment of “management contracts” for purposes of the restrictions on use of property financed with...more

Mintz

IRS Relaxes Restrictions on Management Contracts for Bond-Financed Facilities

Mintz on

The IRS on August 22, 2016 released long-anticipated Revenue Procedure 2016-44 (Rev. Proc. 2016-44), which substantially increases flexibility in, and provides a less formulaic approach to, the ability of a tax-exempt bond...more

Foley & Lardner LLP

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

Foley & Lardner LLP on

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

Ballard Spahr LLP

Recent Favorable IRS Guidance for Tax-Exempt Bond Financed Facilities

Ballard Spahr LLP on

The IRS has released guidance in three areas of interest to entities that benefit from tax-exempt bond financings, particularly hospitals and educational institutions. This guidance creates new rules related to management...more

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