Archives: Exempt Facility Bonds

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The Final Allocation and Accounting Regulations – What Do They Mean For “Phantom Investment Proceeds”?

The flexibility to reallocate proceeds to expenditures using an accounting method other than direct tracing has been a well-recognized and much-appreciated opportunity under the allocation and accounting rules of IRC section 141. The former proposed section 141 regulations (REG-140379-02, Sept. 26, 2006) (“Proposed Regulations”), now replaced by the final section 141 regulations issued October 27, … Continue Reading

Roddy Devlin and Bruce Gabriel on P3s in 2015 and Beyond

The Bond Buyer ($) has a piece by our own Roddy Devlin and Bruce Gabriel today, wrapping up the year in public-private partnerships in 2015, and looking forward to the future. They note one particularly important tax-focused point – Congress has enacted the Fixing America’s Surface Transportation Act, which removes the prohibition against combining tax-exempt bonds for … Continue Reading

Roddy Devlin and Greg Johnson on Public-Private Partnerships

Roddy Devlin and Greg Johnson, two of our experts on Public-Private Partnerships (which you may know as “P3s”), have an excellent overview in The Bond Buyer today ($) of how the federal, state, and local governments in the United States are warming up to the idea of using P3s for infrastructure projects. If you’re more of a … Continue Reading

Qualified Public Infrastructure Bonds – Fancy New Name; Familiar Old Rules

The new tax-advantaged bond programs in the 2009 Stimulus Act (P.L. 111-5) appeared out of nowhere (or, in the case of direct pay bonds, almost out of nowhere), and left many in the tax-exempt bond community swimming in new concepts for several months. Once everyone finally worked through the new questions (just what was a “permitted sinking fund … Continue Reading

The Bond Buyer Publishes Commentary by Squire Patton Boggs Attorneys on Qualified Public Infrastructure Bonds

The Bond Buyer recently published a commentary ($) prepared by Squire Patton Boggs’ lawyers Mike Cullers and Roddy Devlin,  on the proposal in the Obama Administration’s federal government budget for fiscal year 2016 to expand exempt facility bonds to include a new category – Qualified Public Infrastructure Bonds.  Please see this commentary for a primer on the applicable … Continue Reading
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