On April 27, 2020, the Federal Reserve announced an expansion of the scope as well as the duration of the Municipal Liquidity Facility (the MLF). The MLF, which was originally announced on April 9, 2020, as part of the $2.3...more
On April 9, 2020, the Federal Reserve announced a new program to bolster State and local government’s cash flow disruptions caused by the COVID-19 pandemic. In its announcement, the Federal Reserve Board disclosed the...more
On April 11, 2018, the Internal Revenue Service published Revenue Procedure 2018-26 ("Rev. Proc. 2018-26") which sets forth new remedial measures that issuers may utilize to preserve the tax-exempt or tax-advantaged status of...more
On December 20, 2017, Congress passed the “Tax Cuts and Jobs Act” (the “Tax Act”) under its power to reconcile the 2018 federal budget. The President signed the Tax Act into law on December 22, 2017....more
12/27/2017
/ Alternative Minimum Tax ,
Corporate Taxes ,
Income Taxes ,
Municipal Bonds ,
New Legislation ,
Tax Deductions ,
Tax Exemptions ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration
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
11/21/2017
/ Infrastructure ,
Legislative Agendas ,
Proposed Legislation ,
Public Finance ,
Public Projects ,
State and Local Government ,
Tax Code ,
Tax Rates ,
Tax Reform ,
Tax-Exempt Bonds ,
Trump Administration
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
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 Securities and Exchange Commission (SEC) has extended the deadline for issuers and obligors to self-report potential violations of their continuing disclosure obligations from the original deadline of September 10, 2014...more
If your organization has participated in a municipal bond or other municipal security financing in the past five years, you should be aware of the Securities and Exchange Commission’s (“SEC”) Municipalities Continuing...more