News & Analysis as of

U.S. Treasury State and Local Government

Moore & Van Allen PLLC

The AI Executive Order: What’s Happened and What’s Coming Up… 

Last week, the White House issued an update on President Biden’s October 30, 2023 Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence (the “AI EO” or “EO”). The update detailed...more

Jones Day

The Climate Report: Fourth Quarter 2023

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REGULATORY ISSUES & UPDATES - Mandatory Climate Change Reporting Requirements Under the New European ESRS E1 - The implementation of the European Sustainability Reporting Standards poses risks for reporting companies,...more

Keating Muething & Klekamp PLL

Emerging State Laws Restricting Foreign Ownership of Real Estate

The Office of Foreign Assets Control (“OFAC”) is an arm of the U.S. Department of Treasury, tasked with administering and enforcing various economic and trade sanctions intended to further U.S. foreign policy and national...more

Sheppard Mullin Richter & Hampton LLP

AZ Attorney General Concludes Non-Recourse EWA Not a Loan

On December 18, the Arizona Attorney General issued an opinion on earned wage access (EWA), which determined that fully non-recourse EWA products do not constitute consumer loans subject to consumer loan regulations, and...more

Holland & Knight LLP

Local Government Update: Treasury's Final Rule on American Rescue Plan Coronavirus State and Local Recovery Funds

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The U.S. Department of the Treasury released the Final Rule on Jan. 6, 2022, governing the use of Coronavirus State and Local Fiscal Recovery Funds (SLFRF) as established under the American Rescue Plan. To assist…...more

Bricker Graydon LLP

ARPA final rule - The “B-sides collection”: Seeding revolving loan funds

Bricker Graydon LLP on

Continuing our series of articles reviewing the lesser publicized aspects of the new American Rescue Plan Act (ARPA) guidance (hence, the “B-sides” moniker), we address the U.S. Treasury’s issued guidance as to using federal...more

Bricker Graydon LLP

ARPA Final Rule - The “B-sides collection”: Funding capital projects

Bricker Graydon LLP on

Much has been written by various prognosticators regarding the January 6, 2022, release by the U.S. Treasury of its Final Rule as to the use by state and local governments of federal stimulus funding under the American Rescue...more

Best Best & Krieger LLP

U.S. Treasury Releases Final Rule on ARPA Coronavirus State and Local Fiscal Recovery Funds

Final Rule, Considered Victory for Local Governments, Takes Effect in April 2022 - The U.S. Department of Treasury has released the Final Rule governing implementation of the American Rescue Plan Act (ARPA) Coronavirus...more

Bradley Arant Boult Cummings LLP

Where Are We On The New Elective PTE Tax Regime?

Earlier this year, Alabama became one of 19 or so states to enact a pass-through entity tax as a workaround to the so-called "SALT Cap" enacted as part of the Tax Cuts and Jobs Act of 2017, which limits the deductibility of...more

Kilpatrick

North Carolina General Assembly Update - October 2021 #2

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Kilpatrick Townsend’s Government Relations Team represents a variety of clients across many industries and in all levels of government, with a focus on the North Carolina General Assembly. Below is an update on the activity...more

McGuireWoods Consulting

American Rescue Plan Implementation - September 2021 #2

State Actions on Coronavirus Relief Funds | American Rescue Plan Overview - On March 10, 2021, Congress passed President Biden’s stimulus and COVID-19 relief package, the American Rescue Plan (ARP). The $1.9 trillion...more

Bass, Berry & Sims PLC

First Installment of Surprise Billing Regulations Released

On July 1, the Department of Health and Human Services (HHS), Department of Labor, and Department of the Treasury (Departments) jointly issued interim final rules (IFR) implementing certain aspects of the No Surprises Act...more

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

"No Surprises Act" Compliance Tips For Group Health Plans and Health Insurance Issuers

On July 13th, group health plans and health insurance issuers subject to the Federal No Surprises Act (the “Act”) received the first phase of interim final rules promulgated under the Act (the “Rules”) and issued by the...more

McGuireWoods Consulting

American Rescue Plan Implementation

State Actions on Coronavirus Relief Funds | American Rescue Plan Overview On March 10, 2021, Congress passed President Biden’s stimulus and COVID-19 relief package, the American Rescue Plan (ARP). The $1.9 trillion package...more

Manatt, Phelps & Phillips, LLP

Treasury Issues Rules for $350 Billion Coronavirus State and Local Fiscal Recovery Funds

The Big Picture - A key provision of the American Rescue Plan (ARP) is the establishment of the $350 billion Coronavirus State and Local Fiscal Recovery Funds (Fiscal Recovery Funds) for eligible state, local, territorial and...more

Best Best & Krieger LLP

Coronavirus State and Local Fiscal Recovery Fund Guidance for NEUs

U.S. Treasury Provides Direction on Distribution to Non-Entitlement Units of Local Government - Yesterday, the U.S. Treasury released additional guidance on the Coronavirus State and Local Fiscal Recovery Fund,...more

Kilpatrick

U.S. Department of the Treasury’s $350 Billion Coronavirus State and Local Fiscal Recovery Funds Program – Private Sector Support

Kilpatrick on

Earlier this month, the U.S. Department of the Treasury (Treasury) launched the $350 billion Coronavirus State and Local Fiscal Recovery Funds (Fiscal Recovery Funds) program. The program, which is established under the $1.9...more

Ballard Spahr LLP

U.S. Department of the Treasury Launches the Coronavirus State and Local Fiscal Recovery Funds Program

Ballard Spahr LLP on

Summary - The U.S. Department of the Treasury (Treasury Department) announced the launch of the Coronavirus State and Local Fiscal Recovery Funds Program, which will provide $350 billion in emergency funds to eligible...more

Alston & Bird

Treasury Launches Coronavirus State and Local Fiscal Recovery Funds

Alston & Bird on

Our Legislative & Public Policy Team reviews the latest federal fiscal relief for state, local, and tribal governments and how they can be used to help recover from the massive effects of the coronavirus pandemic....more

Haynsworth Sinkler Boyd, P.A.

Coronavirus Fiscal Recovery Funds Available For State And Local Governments

The federal government has issued its Interim Final Rule regarding implementation of the Coronavirus State Fiscal Recovery Fund and the Coronavirus Local Fiscal Recovery Fund (Fiscal Recovery Funds) established under the...more

Harris Beach PLLC

The American Rescue Plan Act of 2021: State & Local Funding

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Following widespread calls for greater federal action to provide financial relief to struggling governments across the United States, President Biden and Congress delivered respite to America’s state and local governments by...more

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

McGuireWoods LLP

$350 Billion Slated for State, Local Governments as President Signs American Rescue Plan

McGuireWoods LLP on

On March 11, 2021, President Joe Biden signed into law H.R. 1319, the American Rescue Plan Act of 2021. The $1.9 trillion stimulus plan passed in the U.S. House of Representatives by a 220-211 vote on March 10, 2021, and in...more

Farrell Fritz, P.C.

Forget Congress: The IRS Needs To Reverse Course On The Deduction Of Business Expenses Paid With PPP Loan Proceeds

Farrell Fritz, P.C. on

Round Two- “Painful social lockdowns in Europe and some American states helped blunt the coronavirus. Now, amid a fitful reopening, the pandemic is once again surging.” So begins an article on the front page of last...more

McDermott Will & Emery

Final Section 468A Regulations Issued at Last

McDermott Will & Emery on

On September 4, 2020, the Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) published in the Federal Register final regulations under section 468A of the Internal Revenue Code (the Code) that...more

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