News & Analysis as of

Financing State and Local Government

Holland & Knight LLP

EPA Announces $7.5 Billion in Water Infrastructure Loans

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The U.S. Environmental Protection Agency (EPA) on Sept. 6, 2024, announced the availability of $6.5 billion in Water Infrastructure Finance and Innovation Act (WIFIA) funding and $1 billion in State Infrastructure Financing...more

Alston & Bird

States Impose Commercial Financing Disclosure Requirements

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What Happened: In a little-noticed development, eight states have enacted legislation that requires specific disclosures for commercial non-real estate secured financing transactions....more

Holland & Knight LLP

New Federal Program Provides Grants for Eligible P3 Transportation Projects

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The Build America Bureau (Bureau) of the U.S. Department of Transportation (DOT) released on March 11, 2024, a Notice of Funding Opportunity for the new Innovative Finance and Asset Concession Grant Program (IFACGP)....more

King & Spalding

Florida Magistrate Judge Rules Against Florida’s Efforts to Prohibit CMS from Enforcing an Informational Bulletin on Health...

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On January 29, 2023, a Florida Magistrate Judge recommended denying the State of Florida’s Motion for Preliminary Injunction and granting CMS’s Motion to Dismiss in connection with the implementation and enforcement of its...more

Womble Bond Dickinson

Commercial Financing Disclosure Laws Proposed in U.S. Congress

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California, Connecticut, Florida, Georgia, New York, Virginia, and Utah have enacted laws requiring consumer-like disclosures in certain commercial loans. Some of these “Commercial Financing Disclosure Laws” require...more

Holland & Knight LLP

An Introduction to Property Assessed Clean Energy Financing

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Property Assessed Clean Energy (PACE) is a financing model that provides low-cost, long-term funding for eligible energy efficiency and renewable energy projects. PACE is a national initiative by the U.S. Department of...more

Troutman Pepper

NJ Attorney General Reaches Settlement With Merchant Cash Advance Company Over Alleged Unfair and Deceptive Practices

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On December 27, the New Jersey Division of Consumer Affairs (the Division) entered a consent order with Yellowstone Capital LLC (Yellowstone) and several related companies to resolve allegations that, in violation of the New...more

Miles & Stockbridge P.C.

U.S. Small Business Lending Disclosure Act: Congress’s Commercial Finance Disclosure Law - Will It Displace State Law?...

Over the past year, we have reported on the new wave of laws enacted and proposed in various states requiring consumer-like disclosures in commercial financing transactions. These state laws are often titled “Commercial...more

Troutman Pepper

Utah Governor Signs Commercial Financing Registration and Disclosure Act

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On March 24, Utah’s governor signed the Commercial Financing Registration and Disclosure Act (CFRDA) into law. Under the CFRDA, beginning January 1, 2023, commercial financing providers must register with the Utah Department...more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Establishes C-PACE Program to Finance Eligible Commercial Renewable Energy Projects

What You Need to Know •The New Jersey Economic Development Authority (EDA) has established the C-PACE program to facilitate the financing by authorized municipalities of eligible commercial renewable energy, water...more

Ballard Spahr LLP

New York enacts commercial financing disclosure law

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On December 23, 2020, New York Governor Andrew Cuomo signed into law S 5470–B, which requires consumer-like disclosures for “commercial financing” transactions of $500,000 or less.  New York’s commercial financial law (NYCFL)...more

Allen Matkins

DFPI To Hold Public Hearing Today On Proposed Commercial Loan Disclosures

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Two years ago, California enacted SB 1235 (2018 Cal. Stats. ch. 1011) requiring providers of commercial financing to disclose certain information to the businesses seeking financing.  The Department of Financial Protection...more

Dorsey & Whitney LLP

Iowa Governor Signs Legislation Related to Iowa County Hospitals’ Authority to Borrow Money

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On June 30, 2020, Governor Reynolds signed into law House File 2643 (“HF 2643”) relating to various appropriations to and legal and regulatory responsibilities for state and local governmental entities. Specially related to...more

Ballard Spahr LLP

CA DBO concludes certain point-of-sale financing arrangements are loans, not credit sales

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On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents.  In the first action,  the DBO...more

Bricker Graydon LLP

Greater Cincinnati Energy Alliance has record-breaking year for PACE financing

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Bricker & Eckler LLP congratulates Greater Cincinnati Energy Alliance (GCEA) on a record-breaking year in Property Assessed Clean Energy (PACE) financing transactions. In 2019, GCEA has closed 24 PACE loans valued at nearly...more

Bricker Graydon LLP

Ohio Attorney General clarifies storm shelter moratorium financing requirements for public and private schools

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On November 1, 2017, the Ohio Board of Building Standards (OBBS) adopted an update to the Ohio Building Code requiring the inclusion of storm shelters in the construction of educational occupancies. That update has resulted...more

Ballard Spahr LLP

Movement on two California bills implicating the California Financing Law

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There was movement last week on two California bills that we have been tracking closely and which could substantially alter the lending and brokering landscape under the California Financing Law (“CFL”)....more

Bricker Graydon LLP

Ohio will become fourth state to offer residential PACE for energy improvements

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Homeowners in Summit, Franklin and Lucas Counties will soon have access to low-interest loans for energy efficiency improvements through property assessed clean energy (PACE) financing. In Summit County, the City of Barberton...more

Coblentz Patch Duffy & Bass

Land Trusts Take Note: Transfer Fees in California Must Provide Direct Benefit to the Property

Last session, California passed California Civil Code Section 1098.6 prohibiting the creation of new transfer fees effective as of January 1, 2019, unless the fee provides a “direct benefit” to the property, as defined under...more

Best Best & Krieger LLP

New Year, New Laws Impacting Public Agencies In California – Part I

The California Legislature passed a number of laws last year that will have a significant impact on how public agencies — including cities and counties, special districts, schools and school districts and more — do business....more

Hogan Lovells

California’s new law requires commercial finance disclosures

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On September 30, 2018, California’s Governor signed into law Senate Bill No. 1235, requiring consumer-like disclosures to be provided to recipients of certain business-purpose financial services products (“commercial...more

Carlton Fields

Iowa And Virginia Insurance Regulators Adopt The NAIC’s Term Model Rules Governing Term And Universal Life Insurance Reserve...

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Insurance regulators in Iowa and Virginia have adopted the NAIC’s Model Rules regulating term and universal life insurance reserve financing. The stated purpose of the rules is “to establish uniform, national standards...more

Butler Snow LLP

Move America Act of 2017 Introduced in House

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A bipartisan group of four members of Congress have introduced legislation that could bring billions of dollars of new investment to state and local government to help grow and repair America’s aging infrastructure....more

Orrick, Herrington & Sutcliffe LLP

Conduit Financing With Tax-Exempt Bonds

The purpose of this pamphlet, part of our Public Finance Green Book Series, is to assist conduit issuers in identifying issues and setting up policies and procedures related to their tax-exempt bond programs and their...more

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