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Leveraging SB1 Funding: Considerations for California Public Entities Entitled to Receive SB1 Revenues and their Financial...

In April 2017, the Road Repair and Accountability Act of 2017 was enacted in California (also known as California Senate Bill “SB1”). Key facts about SB1 are as follows...more

Another Bumpy Week for Equifax: Virus Hits Website, IRS Suspends Contract and Hacked UK Residents Notified

It was another chaotic week for Equifax Inc., still scrambling to stem the torrent of bad news after its massive data breach last month that has potentially affected more than half of the U.S.’s adult population....more

AFRICA - A Legal Guide for Business Investment and Expansion: South Africa

1 .What role does the government of South Africa play in approving and regulating foreign direct investment? South Africa is a constitutional democracy and an active member of the international investment community. It...more

Australian Infrastructure Investment and Privatisation Update: Federal Taxation on the Agenda

by Jones Day on

At the end of January 2017, the Australian Taxation Office ("ATO") updated its draft of the Privatisation and Infrastructure—Australian Federal Tax Framework ("Framework") and issued a Taxpayer Alert TA 2017/1 on stapled...more

Programs to bring investment capital to rural communities

by Butler Snow LLP on

The United States Department of Agriculture (“USDA”) offers a variety of loan programs designed to spur investment in rural communities located throughout the United States of America. These loans are available to...more

New Management Contract Rules Hot Topic At NABL Conference

by Nossaman LLP on

Over a thousand US public finance attorneys converged on the City of Chicago last week for the annual National Association of Bond Lawyers Bond Attorneys Workshop. The conference, the oldest and largest of its kind, featured...more

Management Contracts & Private Business Use–IRS Releases Favorable Guidance

by Bracewell LLP on

Coming as welcome news to those involved in the municipal bond market, Revenue Procedure 2016-44 provides helpful guidance for governmental issuers and 501(c)(3) borrowers entering into long-term contracts with private...more

The Proposed Code Section 457 Regulations Have Arrived

by Bracewell LLP on

On June 22, 2016, the IRS finally issued the long-awaited proposed regulations under Internal Revenue Code (“Code”) Section 457. Code Section 457 applies to deferred compensation plans or arrangements of tax-exempt entities...more

Top Public Finance Attorneys Urge Regulatory Changes to Foster More P3’s

by Nossaman LLP on

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

Social Impact Bond Success

by Miles & Stockbridge P.C. on

Governments spend billions of dollars annually trying to address social problems. Most of these funds are not spent on prevention of such problems, and when they are spent on prevention, it can be challenging to find...more

Appellate Court Upholds TIF District Levy and Collection of Taxes

by Franczek Radelet P.C. on

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

This Week In Securities Litigation

by Dorsey & Whitney LLP on

The SEC filed three actions following-up on its settled proceeding against Oppenheimer for selling millions of shares of unregistered penny stocks. Each individual settled with the agency. In addition, the Commission brought...more

Proposed Bonds to Encourage Public Private Partnerships And Improve Infrastructure

by Butler Snow LLP on

The nation’s infrastructure is in need of dire repair. On February 2, 2015, to encourage private investments in infrastructure through public-private partnerships (“P3s”) and as part of his 2016 proposed budget, President...more

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

by Ballard Spahr LLP on

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

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

Benefits of P3 Model – Rebuttal of Ontario Auditor General’s Report

by Nossaman LLP on

On December 9, 2014, Ontario’s Auditor General released her 2014 Annual Report, sharply criticizing Ontario’s Alternative Financing and Procurement (AFP or P3) program and suggesting a return to using the traditional method...more

Cash Grant Sequester Rate Increased From 7.2 to 7.3 Percent for Fiscal Year 2015

The Department of the Treasury has announced that for fiscal year 2015 the Cash Grant sequester rate will be increased from 7.2 to 7.3 percent. The announcement is available below. The change applies to Cash Grants paid on...more

Pennsylvania’s New Transportation Funding Law

by Cohen & Grigsby, P.C on

On Nov. 25, 2013, Governor Corbett signed into law House Bill 1060. This legislation will invest an additional $2.3 to $2.4 billion into transportation by the fifth year of the plan. Partial funding for the new transportation...more

California Utilities Poised to Commence Renewable Energy Procurement

by K&L Gates LLP on

At its November 14, 2013 Commission meeting, the California Public Utilities Commission (the “CPUC”) conditionally accepted the renewables portfolio standard (“RPS”) procurement plans filed by various California utilities....more

Beanie Baby Founder Pleads Guilty to $53-Million Tax Evasion

by Frank Brunetti on

Beanie Baby Founder Pleads Guilty to $53-Million Tax Evasion by Frank L. Brunetti on October 7, 2013 Ty Warner, founder of the iconic Beanie Baby empire, has agreed to plead guilty to federal tax evasion charges. His...more

Department of Justice Considers Personal Benefit an Important Factor in Prosecuting Employment Tax Cases

by Frank Brunetti on

Department of Justice Considers Personal Benefit an Important Factor in Prosecuting Employment Tax Cases by Frank L. Brunetti on September 24, 2013 Since 2008, the U.S. economy has struggled and employers faced with the...more

Connecticut Selects Maine Wind Farm And Connecticut Solar Project For Long-Term Contracts For Energy And RECs

by Pierce Atwood LLP on

On September 20, 2013, Connecticut Governor Dannel P. Malloy announced that two renewable energy projects have signed long-term contracts as a result of the July 8, 2013 Connecticut Department of Energy and Environmental...more

Creditors File Objections to Detroit Bankruptcy

by Joel Glucksman on

Creditors File Objections to Detroit Bankruptcy by Joel R. Glucksman on August 30, 2013 More than 100 objections have been filed by creditors, opposing the eligibility of Detroit to file Chapter 9 municipal bankruptcy...more

Will the Bitcoin Become a New Tax Evasion Tool?

by Joseph Donegan on

Will the Bitcoin Become a New Tax Evasion Tool? by Joseph M. Donegan on August 19, 2013 Bitcoins, a controversial but highly popular global digital currency, is being used by more consumers to make several types of...more

Focus on Tax Controversy and Litigation - June 2013

by Shearman & Sterling LLP on

In this issue: - Supreme Court Holds in Favor of PPL in UK Windfall Profits Case - US District Court Rejects Talley and Permits a Business Expense Deduction for Part of Double Damages Payment Under the False...more

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