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Public Finance Bonds

Orrick, Herrington & Sutcliffe LLP

Tax-Exempt Bond Financing for Middle-Income Housing

As housing costs have risen in the first part of the 21st century, American households have struggled to compete for high-quality housing near areas of employment in major cities, suburbs, exurbs and rural areas (especially...more

Burr & Forman

Georgia Appellate Court Overturns Lower Court's Denial of Bond Incentives for Rivian Investment

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On April 28, 2023, the Georgia Court of Appeals reversed the ruling of the Morgan County Superior Court and approved $15 billion in bonds for Project Tera, a 2,000-acre Rivian Horizon LLC (“Rivian”) electric truck plant...more

Harris Beach PLLC

Blue Sky Over the Grand Canyon: Interpreting Regulation of Bonds in Arizona

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This article continues our series of content on Blue Sky laws. With subtle but important differences in each state, and sharply divided opinions on interpretation, the nuances of blue sky laws are as varied and unique as...more

Orrick, Herrington & Sutcliffe LLP

Texas School Bond Election Timeline for November 2022 Elections

For school districts and community college districts considering November 8, 2022 bond elections. The statutory deadline to adopt the Election Order is Monday, August 22, 2022....more

Orrick, Herrington & Sutcliffe LLP

School Bond Election Timeline for November 2022 Election

For school districts and community college districts considering November 2022 bond elections. The statutory deadline to submit the Resolution Calling the Election is August 12, 2022, but some counties have earlier deadlines...more

K&L Gates LLP

Permanent Dial-In Option Makes TEFRA Hearings Easier Than Ever – Forever

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The Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) requires a public hearing as a form of public approval for certain types of tax-exempt private activity bonds. Thanks to COVID-19, holding a hearing is easier than...more

Pullman & Comley, LLC

Extension for Issuance of 30-Year Municipal Bonds

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During the 2022 Legislative Session, the General Assembly passed, and the Governor signed into law, HB 5506, commonly referred to as the Implementer (the “New Law”).  For municipalities issuing bonds and refunding bonds,...more

Locke Lord LLP

Changes to the Application of Bond and ‎Note Premium Under Massachusetts Law

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The law governing the use of bond and note premium received by Massachusetts municipalities and ‎districts, Section 20 of Chapter 44 of the Massachusetts General Laws, was recently amended. Any ‎premium received upon the sale...more

Foley & Lardner LLP

Build Back Better: Notable Infrastructure and Other Public Finance Provisions Make Progress in Congress

Foley & Lardner LLP on

On Wednesday, September 15, 2021, the House Committee on Ways and Means advanced the infrastructure bill (also called the Build Back Better Act). Of particular interest to the public finance market are Subtitles F and G,...more

Ballard Spahr LLP

NJ Supreme Court Upholds COVID-19 Emergency Bond Act

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The Supreme Court of the State of New Jersey upheld the New Jersey COVID-19 Emergency Bond Act (the Act), authorizing the State to issue up to $9.9 billion in state borrowing either through general obligation bonds or...more

Ballard Spahr LLP

NJ Passes COVID-19 Emergency Bond Act

Ballard Spahr LLP on

New Jersey Gov. Phil Murphy signed into law the New Jersey COVID-19 Emergency Bond Act (the “Act”) on July 16, 2020. The Act authorizes the issuance of New Jersey State bonds up to $9.9 billion to respond to financial issues...more

Butler Snow LLP

The Moving Forward Act’s Public Finance Provisions

Butler Snow LLP on

On June 22, 2020, members of the United States House of Representatives Committee on Transportation & Infrastructure released the details and full text of the Moving Forward Act (H.R. 2). The Moving Forward Act is proposed...more

McGuireWoods LLP

COVID-19: Temporary Relief From In-Person Public Hearing Requirement for Private Activity Bonds

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To accommodate COVID-19-related social distancing requirements, the IRS on May 4, 2020, released Revenue Procedure 2020-21, which provides temporary relief from the in-person public hearing requirement for tax-exempt...more

Ballard Spahr LLP

Bond Relief Amid COVID-19 Restrictions: Telephonic Public Hearings and Enhanced Issuer Ability to Purchase Bonds

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The IRS provided much-awaited relief for issuers seeking to do a public hearing for their bonds amidst the current pandemic situation. The IRS guidance, Revenue Procedure 2020-21, permits a public hearing to be held by...more

Orrick, Herrington & Sutcliffe LLP

Cash Flow and Budget Relief for Local Governments and Borrowers in California

As a result of the COVID-19 virus, local governments in California are facing sudden, unexpected, unprecedented, dramatic shortfalls or delays in a number of their core revenue streams, in some cases combined with...more

Orrick, Herrington & Sutcliffe LLP

Federal Tax Law Considerations for Financings COVID 19 Costs on a Tax Exempt Basis: What Issuers Need to Know

States, municipalities and 501(c)(3) organizations (Issuers) likely will have to incur significant expenses in their fight against COVID-19. Even if Issuers have reserves available for these costs, there are a few different...more

Orrick, Herrington & Sutcliffe LLP

Legislation Relating to Public Finance Enacted by the 86th Texas Legislature (Regular Session)

This document briefly summarizes a select list of legislation relating to public finance enacted by the 86th Legislature (Regular Session) that became law. Bills are arranged alphabetically by subject matter, separating laws...more

Orrick, Herrington & Sutcliffe LLP

IRS Releases Final TEFRA Regulations

On December 28, 2018, the U.S. Department of the Treasury released final regulations (the “Final TEFRA Regulations”) regarding the requirements for public notice, hearing, and approval of qualified private activity bonds...more

Mintz - Public Finance Viewpoints

Final Private Activity Bond Public Approval Regulations Streamline Notice Requirements

On December 31, 2018, the Department of the Treasury and the Internal Revenue Service released final regulations (the “Final Regulations”) relating to public approval requirements for tax exempt private activity bonds. The...more

Bracewell LLP

It's Official! Final Public Approval Regulations Now Reflect the 21st Century

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Treasury has released final regulations (the “Final Regulations”) relating to the public approval requirements for private activity bonds (aka the “TEFRA approval” process). The Final Regulations effectively track the...more

McGuireWoods LLP

Final Private Activity Bond Public Approval Regulations: Three Key Takeaways

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An issue of private activity bonds will not qualify for tax-exempt status unless the bond issue has satisfied the "public approval" requirement of Section 147(f) of the Internal Revenue Code of 1986, as amended. The bond...more

Orrick, Herrington & Sutcliffe LLP

Bottled Booze in the Boarding Area IRS Ruling Permits Use of Floating Equity in Airport Exempt Facility Private Activity Bond...

In a recently released private letter ruling (Private Letter Ruling 201847001, or the “Ruling”), the IRS approved the use of a “floating equity” allocation method for exempt facility bonds issued to finance renovations to an...more

Orrick, Herrington & Sutcliffe LLP

NABL Bond Attorneys' Workshop - Notes and Impressions

On September 26-28 the National Association of Bond Lawyers held an annual gathering called the Bond Attorneys' Workshop, which consisted of a series of subject-specific meetings discussing topics in municipal finance. Most...more

Bracewell LLP

The Tax Reform Roller Coaster Ends – Summary of Provisions Affecting Public Finance

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On December 22, 2017, the President signed the Tax Cuts and Jobs Act (the “Final Bill”) into law, bringing an end to the nearly two-month rollercoaster ride that had the public finance industry white-knuckled and a little...more

Sherman & Howard L.L.C.

Sherman & Howard Public Finance Advisory: UMB Bank, N.A. v. Landmark Towers Association

Sherman & Howard L.L.C. on

On Monday, December 11, 2017, the Colorado Supreme Court issued an important decision with respect to the election process that is necessary for much of Colorado public finance. The case arises out of an election held...more

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