News & Analysis as of

Tax-Exempt Bonds Municipal Bonds

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

by Ballard Spahr LLP on

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

The International Tax Impact Of The 2017 Tax Cuts And Jobs Act

We drafted a tax alert that addresses the impact of the much anticipated "Tax Cut and Jobs Act" (H.R. 1) on the international corporate tax landscape. ...more

Senate Finance Committee Mark Eliminates Advance Refundings, Silent on Private Activity Bonds

by Bracewell LLP on

On November 9, 2017, the U.S. Senate Finance Committee released the Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” (the “Senate Finance Committee Mark”), which sets forth a summary of the proposed tax...more

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

by 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

Public Finance Advisory: Senate Tax Plan Diverges From House Version

by Sherman & Howard L.L.C. on

On November 9, 2017, the U.S. Senate’s Joint Committee on Taxation released its Chairman’s mark of the “Tax Cut and Jobs Act,” a version of which was unveiled by the House of Representatives on November 2....more

UPDATE: House and Senate Tax Reform Bills Agree on Ending Municipal Bond Advance Refundings

by Clark Hill PLC on

On November 9, 2017, the House Ways and Means Committee approved H.R. 1 -- the Tax Cuts and Jobs Act -- which now is teed up for approval by the full House of Representatives. A few hours later, Senate Finance Committee...more

Potential Elimination of Future Private Activity Bonds (including Qualified 501(c)3 Bonds), Advance Refundings, Tax Credit Bonds,...

by Miles & Stockbridge P.C. on

On November 2, 2017, the House Committee on Ways and Means released a draft of its Tax Cuts and Jobs Act (the “Tax Bill”). The Tax Bill proposes to eliminate the federal tax exemption of interest income from all private...more

Summary of State and Local Government Bond Provisions in the Tax Cuts and Jobs Act

On November 2, 2017, the Republican leadership of the United States House of Representatives introduced the Tax Cuts and Jobs Act (the “Bill”). The Bill would make significant changes to tax rules that apply to tax-exempt...more

House Tax Bill Eliminates Private Activity Bonds, Advance Refundings

by Sherman & Howard L.L.C. on

The House Ways and Means Committee released on November 2, 2017, its draft tax bill (the “Tax Cuts and Jobs Act”), which contains provisions restricting the ability of state and local governments to issue certain types of...more

The Final Countdown: New Issue Price Regulations Effective June 7th

by Bracewell LLP on

The June 7th effective date for the final Treasury Regulations relating to the establishment of “issue price” of tax-exempt obligations (the “New Regulations”) is drawing near. In fact, for obligations that are scheduled to...more

Port Authority of New York and New Jersey to Settle SEC Disclosure Law Violations - Agrees to Admit Wrongdoing and Pay Penalty for...

by Holland & Knight LLP on

The U.S. Securities and Exchange Commission (SEC) announced on Jan. 10, 2017, that the Port Authority of New York and New Jersey (Port Authority) agreed to admit wrongdoing and pay a $400,000 penalty in connection with...more

Support the Tax-Exemption for Municipal Bonds

by Butler Snow LLP on

Please ask your Congressmen to join the bipartisan House Municipal Finance Caucus. Why? What is this caucus? This caucus provides support for the federal tax-exemption for municipal bonds by directly opposing the President’s...more

Shelf Registration Extended Offering Period: Ready for the Municipal Marketplace?

by Foley & Lardner LLP on

Recently, a significant municipal issuer entered the market with its first sale under a $1 billion borrowing program that will use an offering statement style novel to the municipal market. For years, issuers of traditional...more

IRS Revamps Proposed Issue Price Definition for Municipal Bonds

Treasury and IRS today announced a decision to withdraw the much-criticized portion of the notice of proposed rulemaking published in the Federal Register on September 16, 2013 (the “2013 Proposed Regulations”) related to the...more

Municipal Bond Interest Paid By a Bond Insurer After an Issuer’s Bankruptcy Discharge Can Remain Tax-Exempt

In the aftermath of recent municipal bankruptcies in which issuers proposed and/or implemented bankruptcy plans involving partial discharges of the issuer’s payment obligation on insured bonds, there has been increased focus...more

Draw down bonds and date of issuance: questions remain with IRS guidance

by Ballard Spahr LLP on

For many years multifamily housing apartment projects could be financed with tax-exempt drawn-down bonds and loans with all of the bonds issued pursuant to a draw-down loan being treated as part of a single issue. The date of...more

Investing in Georgia: Economic Development Newsletter - October 2013

by King & Spalding on

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - Ongoing coverage of tax reform proposals, including a report published by the Committee for a...more

Investing In Georgia: Economic Development Newsletter - August 2013

by King & Spalding on

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - A Client Alert regarding recent SEC enforcement actions againsta School District - A new...more

Sequestration to Reduce Government Payments to Issuers of Certain Qualifying Bonds

by Dickinson Wright on

March 2013 On March 1, 2013, $85 Billion in automatic reductions in federal spending occurred as mandated by federal law. The automatic budget cuts are known in the parlance of the Beltway as “sequestration.” For issuers of...more

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