Tax Credit and Direct Pay Bonds

Follow up comments to a November 4, 2022 letter sent by NABL suggesting various areas of need for guidance relating to certain tax provisions enacted under the Inflation Reduction Act…

The Internal Revenue Service (IRS) finalized rules for electronic filing of Form 8038-CP last week.

A bond, the interest on which is not excludable from gross income for federal income tax purposes.

A taxable bond that provides a tax credit to the holder in lieu of tax-exempt interest.

A fund into which pledged revenues may be required to be deposited as received and from which disbursements are made to pay allowable operations and maintenance expenses and to meet…

A basic agreement used in project financings for a conduit borrower.

A taxable bond that offers a federal Interest subsidy to the Issuer in lieu of the interest being excludable from federal income tax.

Bonds issued by an Issuer in a conduit financing.

Financing in which the Issuer issues the bonds to finance a project to be used primarily by a third party.

On December 15, 2022, issuer representative groups of the Public Finance Network (PFN) sent a letter urging Congress to address pending Pay As You Go (“PAYGO”) scorecards before the end…

Equip our Communities with a New Financing Tool

Comments submitted in response to a solicitation from the Internal Revenue Service (Notices 2022-49 and 2022-50) for requests for guidance relating to certain tax law changes enacted by the Inflation…