Municipal and General Law

The White House’s FY2024 budget proposal is out and includes the “LIHTC Fix.”

Action taken by the issuer to address events that occur after closing that could impair the tax status of tax-exempt bonds.

The deemed new issuance of outstanding tax-exempt bonds for federal tax purposes under Section 1001 of the Code and Treasury Regulations Section 1.1001-3 as a result of certain changes to…

Use of bond proceeds to pay project costs prior to the issuance of bonds. Reimbursement raises questions related to whether the reimbursement qualifies as an expenditure of tax-exempt bond proceeds…

One of the tests used in establishing whether a bond is a private activity bond (PAB) for tax purposes. The private loan financing test specifically determines whether more than $5…

Type of private activity bond (PAB) permitted to be issued as a tax-exempt bond under Section 142 of the code for the purpose of funding many categories of exempt facilities.

Statute passed in the wake of the 2008-2009 financial meltdown that enacted sweeping changes in the regulation of financial institutions, municipal advisors, and the financial markets.

Federal agency that oversees and regulates the securities industry and aims “to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation.”

An order from a court to a government official ordering the government official to properly fulfill their official duties or correct an abuse of discretion.

The process of designating bonds with a letter and a number per procedures outlined in a bond’s indenture or bond resolution.

Bonds are special obligations secured by incremental increases in tax revenues paid by users of developed property or by general increases in taxable values within a designated tax increment area.

Financing that allows an investor to purchase a participation interest in a stream of payments generated by a lease, installment sale agreement or other governmental obligation.