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State and Local Government › Tax Reform › Municipal Bonds

Bricker Graydon LLP

The Possible Repeal of the Tax Exemption of Municipal Bond Interest

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You may have heard recently about proposals for Congress to remove the exclusion from gross income of interest on state and local bonds, usually referred to as “repealing the tax exemption on municipal bonds.”  This issue...more

Bracewell LLP

The Tax Reform Roller Coaster Ends – Summary of Provisions Affecting Public Finance

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On December 22, 2017, the President signed the Tax Cuts and Jobs Act (the “Final Bill”) into law, bringing an end to the nearly two-month rollercoaster ride that had the public finance industry white-knuckled and a little...more

Bricker Graydon LLP

Tax reform update: H.R. 1 proposes significant limits on municipal bonds

Bricker Graydon LLP on

UPDATE: In the early morning hours of Saturday, December 2, 2017, the United States Senate, by a vote of 51-49, approved its version of H.R. 1, the Tax Cuts and Jobs Act of 2017, commonly referred to as the Senate’s tax bill....more

Clark Hill PLC

Will Tax Reform’s Elimination of Advance Refundings Usher in a New Era of Municipal Derivatives?

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With the termination of tax-exempt advance refunding bonds squarely in the crosshairs of the tax reform measures making their way through both houses of Congress, the municipal market needs to consider the impact of the loss...more

Ballard Spahr LLP

Federal Tax Reform: Senate Proposal Repeals Advance Refundings but Keeps Private Activity Bonds

Ballard Spahr LLP on

The Senate Finance Committee unveiled a section-by-section description of its tax reform package on November 9, 2017, including municipal bond provisions that reject efforts by the House Ways and Means Committee to terminate...more

Bracewell LLP

Senate Finance Committee Mark Eliminates Advance Refundings, Silent on Private Activity Bonds

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On November 9, 2017, the U.S. Senate Finance Committee released the Description of the Chairman’s Mark of the “Tax Cuts and Jobs Act” (the “Senate Finance Committee Mark”), which sets forth a summary of the proposed tax...more

Nossaman LLP

Proposed House Ways and Means Committee Tax Bill Would Eliminate All PABs

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Last week the House Republican leadership unveiled its much anticipated US tax reform bill. The bill proposes the most sweeping changes to the tax code in 30 years—since the 1986 Tax Act, which by the way imposed many of the...more

Orrick, Herrington & Sutcliffe LLP

Summary of State and Local Government Bond Provisions in the Tax Cuts and Jobs Act

Orrick, Herrington & Sutcliffe LLP on

On November 2, 2017, the Republican leadership of the United States House of Representatives introduced the Tax Cuts and Jobs Act (the “Bill”). The Bill would make significant changes to tax rules that apply to tax-exempt...more

Holland & Knight LLP

Tax-Exempt Financing Provisions on the Table as Congress Considers Tax Reform

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Recent legislative discussions concerning tax reform have included the potential elimination of several federal provisions long considered sacred to state and local governments and untouchable by federal policymakers. Those...more

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