On February 23, 2016, the Internal Revenue Service (IRS) released proposed regulations providing guidance on the definition of a “political subdivision” under the tax-exempt bond rules. A public hearing is scheduled for June...more
On August 15, 2015, the Government Accounting Standards Board (GASB) issued Statement No. 77 (the “Tax Abatement Standard”) concerning financial reporting of tax abatements and other economic development incentives that...more