San Diego, CA | March 20 – 21, 2025.
The Institute 2025
Join us at The Institute 2025, an exclusive in-person event designed for seasoned bond attorneys (10+ years’ experience). This conference, held at the Marriott Marquis San Diego Marina from Thursday, March 20 to Friday, March 21, 2025, breaks away from traditional lecture-based formats. Instead, it features dynamic, discussion-based forums that encourage active participation and foster a sense of community among attendees.
Expand your legal knowledge base, contribute to meaningful discussions, and be part of a transformative learning experience. We hope you can join us in San Diego!
Not a member yet? Join NABL today to unlock access to The Institute 2025 and other exclusive events, resources, and benefits.
Key Highlights
- Member-Exclusive Access: Attendance is reserved exclusively for NABL members, ensuring a high-caliber networking environment and fostering deeper professional connections.
- Interactive Discussion Forums: Engage in topic-based forums led by experienced moderators, promoting open dialogue and the exchange of innovative ideas.
- Chatham House Rule: Enjoy candid discussions with the assurance that all conversations are “off the record,” encouraging honest and open communication.
- Diverse Topics: Explore both perennial issues and emerging trends in bond law and the municipal market, including ESG factors, changing market structures, and key implementation of the Financial Data Transparency Act (FDTA).
- Networking Opportunities: Connect with prominent bond attorneys from every corner of the country, share insights, and build lasting professional relationships.
- Comprehensive CLE Sessions: Gain actionable takeaways and earn CLE credits through sessions designed to challenge assumptions and broaden perspectives.
Conference Leadership
As always, the programming of this industry-leading event is member-driven. We are grateful to our conference leadership for their commitment to excellence and support in organizing this special event to help advance the public finance legal community.
Agenda
Session times and details are subject to change. Please select your desired sessions during registration to ensure CLE credit accuracy. Each discussion forum is capped at 50 attendees. However, forums will repeat throughout the two-day conference at different times, allowing attendees multiple opportunities to participate.
7:00 AM
Conference Check-In Desk Opens
7:00 – 8:00 AM
Continental Breakfast
Opening General Session
Join members of NABL’s leadership for a welcome message and a general session discussing the new Administration, new Congress and impacts on Public Finance.
9:15 – 9:45 AM
Networking Break
9:45 – 11:00 AM
Discussion Forums
— BREAKOUT #1 TOPICS —
Tax Forum discussionDiscussion of current trends in Internal Revenue Service (IRS) Audits and Voluntary Closing Agreement Program (VCAP). Discussion will include rebate audits, reimbursement and expenditure issues and appeals.
Tax Forum discussionThis panel will explore in depth 501(c)(3) issues that potentially impact tax-exempt financings, such as churches expanding their activities, options for under-utilized student or faculty housing projects, and lessening the burden of government.
Securities + Tax Forum discussion
This session will focus on current change in use and other issues associated with workouts. Topics will include the change in use Treasury Regulations, debt/equity concerns, bondholder control of the facility, and reissuance issues, among other matters.
Securities Forum discussionAn update on ESG disclosure and the future of labeled bonds in the municipal securities market; what ESG trends are we seeing in 2025 and in the years ahead; and other related disclosure considerations.
Securities Forum discussionSpecific topics will be finalized closer to date to reflect recent developments.
Securities Forum discussionA look at alternative financing structures – what disclosure, securities and other considerations are there for bank products, direct purchases, limited offerings, remarketings, and CP deals.
11:00 – 11:30 AM
Networking Break
11:30 AM – 12:45 PM
Discussion Forums
— BREAKOUT #2 TOPICS —
Tax Forum discussionThis panel will explore more complex “expenditure” and “investment” issues that impact tax-exempt financing, bringing in general tax considerations. The discussion will include prepayment transactions, investments provided by a bondholder, and hedges among other issues.
Tax Forum discussionDiscussion of elective pay tax credits, including an overview of elective pay mechanics and current issues. Discussion will include the concept of a unit of energy property, domestic content, beginning of construction, and existing property issues.
Securities + Tax Forum discussionDiscussion of topics related to issuer’s counsel roles: Trends in issuer’s counsel opinions and role in transaction; Best practices for managing disclosure as issuer’s counsel; Issuer & issuer’s counsel role in managing post-issuance compliance, including for conduit transactions – tax, disclosure, etc.
Securities Forum discussionAn update on SEC enforcement and a look ahead on regulatory priorities under a new administration and SEC leadership.
Securities Forum discussion
Discussion of disclosure trends and Rule 15c2-12 compliance; CDAs and compliance reviews; review of voluntary (and legally mandatory) disclosure guidelines.
12:45 – 1:15 PM
Networking Break
1:15 – 2:30 PM
Lunch + Ethics Session: Managing Others in A Legal Setting: An Examination of the Model Rules Regarding Law Firms and Associations as A Guide to Better Manage Our Subordinates
Discussion of law firm management and administrative matters, HR matters, and other challenges in the legal market.
Discussion of law firm management and administrative matters, HR matters, and other challenges in the legal market.
— BREAKOUT #3 TOPICS —
Tax Forum discussionNew structures and potential tax issues relating to affordable housing structure deals. The impact of higher interest rates on these structures, interest rate hedges (such as caps), project transfers, and projects for specific tenant categories will also be discussed.
Tax Forum discussion
This panel will explore in depth 501(c)(3) issues that potentially impact tax-exempt financings, such as churches expanding their activities, options for under-utilized student or faculty housing projects, and lessening the burden of government.
Securities + Tax Forum discussionAn in-depth discussion of current issues impacting municipal utilities that will focus on securities and tax questions involving gas, electric, water, wastewater revenue bonds and other debt issued by municipal utilities; the discussion will also look at conduit financings with private utilities.
Securities + Tax Forum discussionDiscussion relating to different types of opinions/disclosure and current issues. Topics will include the recommended items in a bond counsel opinion, reissuance and no adverse impact opinions, 501(c)(3) opinions, and tax disclosure, among other issues.
Securities Forum discussionA look at alternative financing structures – what disclosure, securities and other considerations are there for bank products, direct purchases, limited offerings, remarketings, and CP deals.
Securities Forum discussion
Securities and disclosure considerations for tenders and exchanges, including: SEC guidance on conditions for a tender offer; discussion of 501(c)(3) tenders; and dealer manager agreements and related deal points. The discussion will also explore current trends in forward delivery structures and the unique elements of these transactions.
4:00 – 4:30 AM
Networking Break
4:30 – 5:45 PM
Discussion Forums
— BREAKOUT #4 TOPICS —
Tax Forum discussionDiscussion of current trends in Internal Revenue Service (IRS) Audits and Voluntary Closing Agreement Program (VCAP). Discussion will include rebate audits, reimbursement and expenditure issues and appeals.
SECURITIES + Tax Forum discussionThis session will focus on current change in use and other issues associated with workouts. Topics will include the change in use Treasury Regulations, debt/equity concerns, bondholder control of the facility, and reissuance issues, among other matters.
Securities + Tax Forum discussionDiscussion of topics related to issuer’s counsel roles: Trends in issuer’s counsel opinions and role in transaction; Best practices for managing disclosure as issuer’s counsel; Issuer & issuer’s counsel role in managing post-issuance compliance, including for conduit transactions – tax, disclosure, etc.
Securities Forum discussionSpecific topics will be finalized closer to date to reflect recent developments.
Securities Forum discussion
Discussion of the implementation and rulemaking for the FDTA regulatory scheme; review of proposed FDTA rules and regulations and industry comments (including NABL’s comment letter); a look ahead at the FDTA in a new government.
6:00 PM
Welcome Reception
7:00 AM
Conference Check-In Desk Opens
7:30 – 8:30 AM
Continental Breakfast
8:30 – 9:45 AM
Discussion Forums
— BREAKOUT #5 TOPICS —
Tax Forum discussion
This panel will explore more complex “expenditure” and “investment” issues that impact tax-exempt financing, bringing in general tax considerations. The discussion will include prepayment transactions, investments provided by a bondholder, and hedges among other issues.
Securities + Tax Forum discussion
An in-depth discussion of current issues impacting municipal utilities that will focus on securities and tax questions involving gas, electric, water, wastewater revenue bonds and other debt issued by municipal utilities; the discussion will also look at conduit financings with private utilities.
Securities Forum discussion
Discussion of disclosure trends and Rule 15c2-12 compliance; CDAs and compliance reviews; review of voluntary (and legally mandatory) disclosure guidelines.
Securities Forum discussionSecurities and disclosure considerations for tenders and exchanges, including: SEC guidance on conditions for a tender offer; discussion of 501(c)(3) tenders; and dealer manager agreements and related deal points. The discussion will also explore current trends in forward delivery structures and the unique elements of these transactions.
9:45 – 10:15 AM
Networking Break
10:15 – 11:30 AM
Final Discussion Forums
— BREAKOUT #6 TOPICS —
Tax Forum discussionDiscussion of elective pay tax credits, including an overview of elective pay mechanics and current issues. Discussion will include the concept of a unit of energy property, domestic content, beginning of construction, and existing property issues.
Tax Forum discussion
New structures and potential tax issues relating to affordable housing structure deals. The impact of higher interest rates on these structures, interest rate hedges (such as caps), project transfers, and projects for specific tenant categories will also be discussed.
Securities + Tax Forum discussion
Discussion relating to different types of opinions/disclosure and current issues. Topics will include the recommended items in a bond counsel opinion, reissuance and no adverse impact opinions, 501(c)(3) opinions, and tax disclosure, among other issues.
Securities Forum discussionDiscussion of the implementation and rulemaking for the FDTA regulatory scheme; review of proposed FDTA rules and regulations and industry comments (including NABL’s comment letter); a look ahead at the FDTA in a new government.
Securities Forum discussionAn update on SEC enforcement and a look ahead on regulatory priorities under a new administration and SEC leadership.
Securities Forum discussionAn update on ESG disclosure and the future of labeled bonds in the municipal securities market; what ESG trends are we seeing in 2025 and in the years ahead; and other related disclosure considerations.
11:30 AM – 12:30 PM
NABL Committee Meetings
– General Law and Practice Committee (GLPC)
– Securities Law and Disclosure (SLDC)
– Tax Law Committee (TLC)
– General Law and Practice Committee (GLPC)
– Securities Law and Disclosure (SLDC)
– Tax Law Committee (TLC)
Registration Fee
| Early Bird (Ends January 31, 2025) | Regular (After January 31,2025) |
| $1,195.00 | $1,395.00 |
Make the Case to Attend
Attending this seminar will allow you to strengthen referral networks and stay updated on the latest developments in securities and tax law. We are pleased to equip you with an Attendance Justification Letter Template to aid you in making the case for your leadership.
Register by Using a Fillable Form
If you prefer to pay over email or by check, please use this PDF Registration Form. If emailing, please send the completed form to registration@nabl.org.
Cancellation Policy
Substitutions and cancellations are permitted when requested in writing by Thursday, February 27, 2025. Any requests received after February 27 may be subject to a cancellation fee. No refunds will be granted after March 19, 2025. Please email all requests to registration@nabl.org.
Hotel: Marriott Marquis San Diego Marina
To ensure you have the best experience, we highly recommend booking your stay at our event hotel. Staying at the event venue provides you with convenient access to all conference activities and helps us meet our hotel block obligations, which in turn supports the overall success of the event. Our room block at the Marriott Marquis San Diego Marina closes on February 28, 2025. Rooms for conference attendees booked through our room block start at $349.00 per night. We look forward to seeing you there!