Tag Archives: Bob Eidnier is not responsible for this post’s title or its tags

Eliminating the Vice of Premature Virtue – Anticipatory Remedial Action

Last week Mike Cullers summarized Treasury’s latest addition to the final private activity bond regulations – the “Allocation and Accounting Regulations” — which were published earlier that week (LINK).   This week we begin to focus on the details of those Regulations, beginning with the much appreciated “anticipatory remedial action” rule (the “ARA Rule”). [1] Prior … Continue Reading

Measure for Measure: A Problem Play in Applying the Private Business Use Measurement Period

While sitting through several sessions at the Bond Attorneys Workshop last week, I heard references to “measurement period” in different contexts. Although trying to stay focused on the always scintillating discussion, my mind wandered to the good and the bad of that concept.  This post explores certain consequences of measurement period, including some surprising results.… Continue Reading

Ohio Supreme Court Finds that Allen Iverson is not “The Answer”

During his NBA playing career, former Philadelphia 76ers point guard Allen Iverson was known as The Answer.  He famously minimized the importance of practice compared to official games, making it clear that he was compensated for playing in games, not for practicing.  For income tax purposes, the City of Cleveland agrees with Mr. Iverson, taxing nonresident … Continue Reading

Supreme Court to City: Drop Dead

On October 30, 1975, The Daily News published one of the most famous headlines in American history – Ford to City: Drop Dead – to paraphrase President Ford’s refusal to extend federal financial assistance to New York City to prevent the City from declaring bankruptcy.  Nearly 40 years later, a different branch of the federal … 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
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