According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2021 will be 5.7 percent. This percentage will apply to all subsidy payments...more
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
According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2020 will be 5.9 percent. This percentage will apply to all subsidy payments...more
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
According to the IRS website, the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2019 will be 6.2 percent. This percentage will apply to all subsidy payments...more
On April 11, 2018, the IRS released Revenue Procedure 2018-26 (“Rev. Proc. 2018-26”), which provides an expansion of the remedial actions available to issuers of tax-advantaged bonds. Specifically Rev. Proc. 2018-26...more
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
1/8/2018
/ 501(c)(3) ,
Alternative Minimum Tax ,
Bonds ,
Infrastructure ,
LIHTC ,
Municipal Bonds ,
Public Finance ,
State and Local Government ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration
An article released by The Bond Buyer on November 14, 2017, reports that, if Congress were to pass the proposed legislation released by the Committee on Ways and Means of the U.S. House of Representatives on November 2, 2017...more
On November 2, 2017, the Committee on Ways and Means of the U.S. House of Representatives released its highly anticipated proposed tax reform legislation (the “Proposed Legislation”). The Proposed Legislation deals a severe...more
Recently released proposed regulations (the “Proposed Regulations”) relating to the public notice and approval requirements for private activity bonds (the “Public Approval Requirement”) – sometimes referred to as the TEFRA...more
According to an update released by The IRS Office of Tax Exempt Bonds, the sequester reduction percentage applied to the payments made to issuers of direct pay bonds in fiscal year 2018 will be 6.6 percent. This percentage...more
On December 9, 2016, the IRS released final Treasury Regulations (the “Final Regulations”) relating to the “issue price” of tax-exempt bonds for purposes of arbitrage investment restrictions. Although, on balance, an...more
12/12/2016
/ Bond Issuers ,
Bond Markets ,
Bonds ,
Final Rules ,
Financial Adviser ,
IRS ,
New Regulations ,
Offering Price ,
Private Placements ,
Public Offerings ,
Tax-Exempt Bonds ,
U.S. Treasury ,
Underwriting
Coming as welcome news to those involved in the municipal bond market, Revenue Procedure 2016-44 provides helpful guidance for governmental issuers and 501(c)(3) borrowers entering into long-term contracts with private...more
8/24/2016
/ 501(c)(3) ,
Bonds ,
Borrowers ,
Contract Terms ,
Management Contracts ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipalities ,
Public Finance ,
Public Private Partnerships (P3s) ,
Revenue Procedures ,
Safe Harbors
On October 26, 2015, the IRS released final regulations (the “Final Regulations”) regarding allocation and accounting rules for purposes of the private activity bond restrictions applicable to tax-exempt bonds issued by state...more