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SEC Requires Disclosure Of Bank Loans And Privately Placed Debt By Most Issuers Of Tax-Exempt Bonds

On August 15, 2018, the Securities and Exchange Commission adopted amendments to Rule 15c2-12 promulgated under the Securities Exchange Act of 1934 (the “Rule”). The Rule, among other things, requires brokers, dealers, and...more

President Trump Signs Tax Act; Makes Legislation Official

On December 20, 2017, Congress passed the “Tax Cuts and Jobs Act” (the “Tax Act”) under its power to reconcile the 2018 federal budget. The President signed the Tax Act into law on December 22, 2017....more

Federal Subsidies on Direct-pay Taxable Bonds Could Be Reduced to $0 if Pending Tax Bills are Passed by Year End

As introduced, the House and Senate tax bills are projected to increase deficits and could trigger the Statutory Pay-As-You-Go Act of 2010 (the “PAYGO law”). Without any other legislation to offset the increase, required...more

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