On May 2, 2023, Florida Governor Ron DeSantis signed into law HB 3, also known as “An Act Relating to Government and Corporate Activism (the “Act”). The Act amends Florida Statute provisions relating to (i) deposits and...more
In a commercial or mixed-use condominium project, parking is a hot commodity (at least for the near to mid-term future). Since parking is an integrated part of the mixed-use condominium project, the developer and their...more
Earlier this year, the policymakers of Florida’s 2020 Legislative session tackled roughly 3,500 filed bills, passing roughly 200 and approving a $93.2 billion budget. Several pieces of this year’s legislative changes will...more
The Supreme Court of the State of New Jersey upheld the New Jersey COVID-19 Emergency Bond Act (the Act), authorizing the State to issue up to $9.9 billion in state borrowing either through general obligation bonds or...more
The Situation: Authorities in China have cracked down on privately developed cryptocurrency, yet have heavily invested in and encouraged the development of other blockchain applications and services. The Result: The rapidly...more
Calif. Appellate Court Strikes Down SB 1107 - A California law that amended the Political Reform Act to permit spending public money on political campaigns was struck down by an appellate court. In Howard Jarvis Taxpayer...more
The Treasury Department suspended sales of SLGS on March 1, 2019. The U.S. Department of the Treasury has announced that it will reopen the SLGS window effective August 5, 2019 at 12:00 Noon ET....more
On December 6, 2017, the U.S. Department of the Treasury announced the suspension of sales of United States Treasury Obligations – State and Local Government Series (i.e., SLGS), effective 12:00 noon Eastern Time, Friday,...more
• The Tax Cuts and Jobs Act introduced in the U.S. House of Representatives on Nov. 2, 2017 – now in markup by the House Ways and Means Committee – has a number of provisions that would likely have a negative impact on the...more
The unique financing alternative afforded to tourism project developers under Virginia Code Section 58.1-3851.1 creates exciting opportunities for growth in tourism and resort areas throughout the state. The expected...more
For the past few months, issuers of token sales or “initial coin offerings” (ICOs) have known that they were, to some extent, sailing in unchartered waters. Those waters have just gotten a bit murkier with an announcement by...more
It has traditionally been a fairly common practice in the municipal bond arena for issuers to either select or have significant input into the selection of underwriter’s counsel in connection with the issuance of municipal...more
Transportation Secretary Elaine Chao recently informed the U.S. Senate that the President’s $1 trillion infrastructure plan will be announced by the end of the month. The new plan is anticipated to rely upon public-private...more
It is a truth universally acknowledged that there is direct correlation between the development of Africa’s infrastructure and the continent’s economic progress. The recent infrastructure investment boom and financing of...more
The Internal Revenue Service (IRS) earlier this year released Rev. Proc. 2017-13 (the Guidelines), which contained new safe harbors for qualified management contracts relating to facilities financed with tax-exempt bonds. The...more
This week, Miami-Dade County hosted Dr. Ben Carson, the Secretary of the United States Department of Housing and Urban Development, at the Liberty Square public-housing development, one of the oldest in the nation. The...more
On March 8, 2017, the U.S. Department of the Treasury announced the suspension of sales of United States Treasury Obligations – State and Local Government Series (i.e., SLGS), effective 12:00 noon Eastern Time, March 15,...more
Commission staff highlight key developments and successes in the SEC enforcement program. As they do every year, senior officials from the US Securities and Exchange Commission (SEC or the Commission), including current...more
President Donald Trump on Feb. 3, 2017, signed an executive order entitled "Core Principles for Regulating the United States Financial System," which directed the Treasury Secretary to consult with financial regulators,...more
In her nomination hearing with the Senate Commerce Committee, Secretary of Transportation Elaine Chao fielded questions about President Trump’s infrastructure proposal. On the fundamental question of “where will the money...more
On September 28, 2016, HUD published a notice in the Federal Register to solicit comments to revised form documents used in the Rental Assistance Demonstration (“RAD”). This notice follows a 60-day comment period on...more
Recently, the IRS released a safe harbor from private use of tax-exempt bond-financed facilities for management contracts that profoundly changes the safe harbors that have been in place under Rev. Proc. 97-13 for almost 20...more
The Internal Revenue Service (the “IRS”) released Revenue Procedure 2016-44 (“Rev. Proc. 2016-44”) on August 22, 2016 to provide new safe harbors for management contracts to avoid characterization of such contracts as private...more
Financing for the Maryland Purple Line closed on Friday, June 17 – marking an important milestone for the Maryland Transit Administration’s (and Maryland Department of Transportation’s) plan to deliver a transit solution to...more
On April 21, 2016, the Colorado Court of Appeals issued a decision related to the Landmark project in Greenwood Village (Landmark Towers Association v. UMB Bank, hereinafter “Marin”). The decision calls into question the...more