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Clawbacks State and Local Government

McDermott Will & Emery

McDermott Provides Treasury Department with Concrete Suggestions for Guidance on the American Rescue Plan Act’s Claw-Back...

McDermott Will & Emery on

The recently enacted American Rescue Plan Act of 2021 (ARPA) includes an ambiguous claw-back provision that has brought the world of state and local tax policymaking to a grinding halt. Because ARPA’s adoption occurred during...more

Mayer Brown

More Polar Vortex 2021 Fallout (and Texas Two-Step): Monitor for ERCOT Identifies Improper Payments for Ancillary Services and...

Mayer Brown on

On March 1, 2021, Potomac Economics, the Independent Market Monitor (IMM) for the Electric Reliability Council of Texas (ERCOT), filed a report with the Public Utility Commission of Texas (PUCT) that certain payments were...more

Bradley Arant Boult Cummings LLP

Compliance Reporting for Economic Development Projects During the COVID-19 Pandemic

The COVID-19 pandemic continues to impact every aspect of both the public and private sectors, and COVID-19’s long-term effects on the U.S. economy remain uncertain. In order to spur economic growth, state and local...more

McDermott Will & Emery

Should Companies Adjust Their Incentive Strategies in Light of New Governmental Accounting Disclosure Requirements?

McDermott Will & Emery on

Earlier this month, the Governmental Accounting Standards Board (GASB) approved Statement No. 77, Tax Abatement Disclosures, which requires state and local governments to report on foregone revenue from tax abatement...more

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