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Tax-Exempt Bonds Infrastructure

Holland & Knight LLP

Jobs Act Directs Private Activity Bonds to Clean Energy, Carbon Capture

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The bipartisan Infrastructure Investments and Jobs Act (IIJA), signed into law in November 2021, provides a "once in a generation" investment into the nation's infrastructure. In addition to making significant investments in...more

Holland & Knight LLP

Qualified Broadband Projects Added to Private Activity Bonds by Jobs Act

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More than 30 million Americans still lack access to reliable high-speed internet. The need for reliable and affordable internet access has become increasingly important as the economy becomes more dependent on internet...more

Foley & Lardner LLP

Infrastructure Investment and Jobs Act: January 1, 2022, Brings Opportunities with Two Types of Tax Exempt Bonds and Program...

Foley & Lardner LLP on

Executive Summary - On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (Public Law 117-58) (the “Act”). The Act provides for more than $550 billion in new infrastructure...more

Downs Rachlin Martin PLLC

Infrastructure Act: Key Investments in Infrastructure, Clean Energy and Rural Broadband Funded by Limited Tax Provisions

Monday, President Biden signed the $1 trillion Infrastructure Investment and Jobs Act (the "Infrastructure Act") into law. The bill, H.R. 3684, originally introduced into the House on June 4, was sent to the President's desk...more

Partridge Snow & Hahn LLP

The Infrastructure Investment and Jobs Act Adds New Categories of Qualified Private Activity Bonds

On November 15, 2021, the Infrastructure Investment and Jobs Act was signed into law and will provide over $1 trillion in funding for a wide array of infrastructure projects. The act also includes certain provisions affecting...more

Bilzin Sumberg

National P3 Update - Transportation

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This installment of our National P3 Update focuses on transportation.  While the transportation sector has dominated the U.S. P3 market over the last decade, the sector has experienced stagnation since the financial close of...more

Bracewell LLP

An Alternative Structure for Certain P3 Projects – The 63-20 Financing

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With all of the talk about the need for infrastructure legislation, public-private partnerships (or “P3s”) are receiving increased national attention. What exactly constitutes a P3 is an ever-evolving question, and the...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Federal Support for Financing State/Local Transportation/Water Infrastructure: Congressional Budget Office Report (October 2018)

The United States Congressional Budget Office (“CBO”) issued an October 2018 report titled: Federal Support for Financing State and Local Transportation and Water Infrastructure (“Report”) - The CBO Report outlines the...more

Mintz - Bankruptcy & Restructuring Viewpoints

Checking-In: Chapter 9, Chapter 11 or Ineligible?

Last week, President Trump unveiled his proposal to fix our nation’s aging infrastructure. While the proposal lauded $1.5 trillion in new spending, it only included $200 billion in federal funding. To bridge this sizable gap,...more

Bracewell LLP

Mixed Messages on PABs: Fit for the Chopping Block or Cornerstone of Infrastructure Finance?

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Only a few months ago, the public finance industry was shaken when the U.S. House of Representatives proposed to eliminate tax-exempt private activity bonds (“PABs”), despite previous assurances that tax reform would not...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

Butler Snow LLP

Tax Cuts & Jobs Act – Impact on Bonds

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The U.S. House and Senate have now each passed the Tax Cuts and Jobs Act (H.R.1) and have sent the bill to President Trump’s desk for final passage. The final bill is expected to cost nearly $1.5 trillion over the next ten...more

Ballard Spahr LLP

GOP Tax Overhaul Saves Private Activity Bonds and Stadium Bonds, Eliminates Advance Refundings and Tax Credit Bonds

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Participants in the municipal bond market are breathing easier after Congress passed sweeping changes to the American tax code without provisions under an earlier House bill that would have eliminated approximately 25% of the...more

Orrick, Herrington & Sutcliffe LLP

Oregon Client Alert Urgent Action Needed to Preserve Private Activity Bonds

Maintaining the existing authority under the Code for private activity bonds (PABs) is vital to continuing public and private investments in infrastructure that support the economy and essential public services. Such...more

Bricker Graydon LLP

Tax reform update: H.R. 1 proposes significant limits on municipal bonds

Bricker Graydon LLP on

UPDATE: In the early morning hours of Saturday, December 2, 2017, the United States Senate, by a vote of 51-49, approved its version of H.R. 1, the Tax Cuts and Jobs Act of 2017, commonly referred to as the Senate’s tax bill....more

Clark Hill PLC

Will Tax Reform’s Elimination of Advance Refundings Usher in a New Era of Municipal Derivatives?

Clark Hill PLC on

With the termination of tax-exempt advance refunding bonds squarely in the crosshairs of the tax reform measures making their way through both houses of Congress, the municipal market needs to consider the impact of the loss...more

Jones Day

Financing Infrastructure Through Tax Policy: Tug-of-War with a Frayed Rope

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The Situation: Private activity bonds are issued by or on behalf of states and local governments to finance certain private (or partially private) projects that benefit the public. Usually, interest income from bonds issued...more

Sherman & Howard L.L.C.

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

Sherman & Howard L.L.C. on

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

Ballard Spahr LLP

Federal Tax Reform: Senate Proposal Repeals Advance Refundings but Keeps Private Activity Bonds

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The Senate Finance Committee unveiled a section-by-section description of its tax reform package on November 9, 2017, including municipal bond provisions that reject efforts by the House Ways and Means Committee to terminate...more

Nossaman LLP

Proposed House Ways and Means Committee Tax Bill Would Eliminate All PABs

Nossaman LLP on

Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more

Orrick, Herrington & Sutcliffe LLP

A Summary Of The Tax Cut And Jobs Act

On November 2nd, the House Ways and Means Committee released the much anticipated "Tax Cut and Jobs Act" (H.R. 1). If passed, this initial pass at widespread tax reform would trigger the most sweeping changes to the U.S. tax...more

Ballard Spahr LLP

Federal Tax Reform: House Bill Rewrites Municipal Bond Rules

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The proposed Tax Cuts and Jobs Act released last week would eliminate the federal tax exemption for interest earned on all private activity bonds—including 501(c)(3) bonds and exempt facility bonds—and advance refunding bonds...more

Orrick, Herrington & Sutcliffe LLP

IRS Focuses on Tax Exempt Financings Involving Developers

For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has characterized as "developer-driven deals" involving the use of tax-exempt...more

Mintz - ML Strategies

MLS Update on Outlook for Tax Reform

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The new congress and administration are eagerly working to advance their policy agendas, and comprehensive reform of the tax code is at the top of the list for Republicans. Despite having unified control of the executive and...more

Ballard Spahr LLP

New IRS Management Guidance is Flexible, Furthers P3s

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State and local governments and 501(c)(3) organizations have been given very flexible guidance by the IRS for longer-term private management of tax-exempt bond financed projects to facilitate general operations and major...more

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