The Inflation Reduction Act, Public Law 117-168 (the “Act”), was signed into law by President Joe Biden on August 16, 2022, but the impact of some of its provisions is just beginning to be felt. Among those are the substantial
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Bond Issue Fundamentals: A Guide to the Participants and the Process
A bond issue (a debt obligation of a local government) is often perceived as a mystery for many Pennsylvania local government officials and solicitors. The securities and tax regulations governing municipal bonds have grown increasingly complex in recent years further…
Leveraging the Inflation Reduction Act to Fund Municipal Projects
Updates in the Inflation Reduction Act could provide tax credits as an avenue for funding opportunities for municipalities to make seemingly impossible project possible. McNees invites you to join our panel of industry experts led by attorney Ryan Gonder for…
Pennsylvania Commonwealth Court Issues Long-Awaited Decision in Ursinus College Prevailing Wage Appeal
The Pennsylvania Commonwealth Court recently issued a long-awaited opinion in a prevailing wage appeal brought by Ursinus College, captioned at Ursinus College v. Prevailing Wage Appeals Board, No. 828 C.D. 2021 (Pa. Commw. Ct. 2022). The College was appealing a decision…
Solicitors: Help Avoid Targeting by the SEC in Municipal Bond Offerings
All attorneys representing municipal and other public sector clients should be aware of the potential for a United States Securities and Exchange Commission (SEC) investigation of their clients’ public bond deals. Issuers generally will hire a team of professionals with…
Seven Lessons to be Learned from Recent SEC Enforcement Actions Involving Municipal Bond Financings
Since September 2021, the United States Securities and Exchange Commission (the SEC) has brought five enforcement actions regarding municipal bond financings. The issuers of these bonds are Sweetwater Union High School District (Texas); Crosby Independent School District (California); Town of…
Municipal CFOs: Be Careful of your Bond Disclosures; the SEC is Gunning for You
The Securities and Exchange Commission (SEC) recently charged two chief financial officers of school districts with misleading investors in municipal bond offerings. This should be a warning to municipal CFOs to be very careful to make appropriate disclosures when involved…
ARPA Reporting due April 30, 2022!
The American Rescue Plan Act (“ARPA”) was enacted in March 2021 providing an unprecedented $1.9 trillion in direct relief to combat the effects Covid-19, whether it be negative economic impacts, public health implications, revenue loss, or identified needs in infrastructure. …
Four Years On, Alternatives to Tax-Exempt Advance Refundings Continue to Proliferate in Municipal Bond Market
In December 2017, former President Donald Trump signed into law the Tax Cuts and Jobs Act. Among the many provisions of the Act was a provision that eliminated the tax exemption for municipal bonds that advance refunded another series of…
McNees Public Finance Attorneys to Present on ARPA Expenditures
McNees Public Finance attorneys Timothy J. Horstmann and Ryan T. Gonder will present “Preparing for an Audit of ARPA Expenditures: What to Do Now,” at the Pennsylvania State Association of Township Supervisors annual conference in Hershey, Pennsylvania, this April.…