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Public Finance Matters Updates on recent public finance and municipal bond developments

Tag Archives: regulations

Treasury/IRS Provide Early Holiday Present: Final “Issue Price” Regulations Released

Posted in Tax/arbitrage

By CHRISTIE MARTIN and MAXWELL D. SOLET After two sets of proposed regulations, Treasury and IRS have now released final regulations on the definition of “issue price” for purposes of arbitrage investment restrictions that apply to tax-advantaged bonds (the “Final Regulations”) and it appears that the third time’s the charm. Practitioners are particularly praising the… Continue Reading

The IRS’s Proposed ABLE Regulations: Obstacles to Launching State Programs, and Potential Solutions

Posted in Regulatory Proposals

By LEONARD WEISER-VARON The IRS’s recently-published proposed regulations for Section 529A qualified ABLE programs have taken some wind out of the sails of state program administrators and potential program managers who had hoped for regulations that hewed closer to the requirements in effect for qualified tuition programs under Section 529, on which Section 529A was… Continue Reading

IRS Revamps Proposed Issue Price Definition for Municipal Bonds

Posted in Tax/arbitrage

By MAXWELL SOLET and CHRISTIE MARTIN Treasury and IRS today announced a decision to withdraw the much-criticized portion of the notice of proposed rulemaking published in the Federal Register on September 16, 2013 (the “2013 Proposed Regulations”) related to the definition of issue price for tax-advantaged obligations and to propose a revised definition of issue… Continue Reading

IRS’s Proposed Section 529A Regulations for ABLE Programs: A Mixed Bag

Posted in Regulatory Proposals

By LEN WEISER-VARON The IRS today published, right on deadline, its proposed regulations relating to Section 529A state-sponsored “qualified ABLE programs,” under which  tax-advantaged investment accounts may be established to fund future “qualified disability expenses” of eligible disabled individuals. The regulations are detailed and this posting will not attempt to summarize them in their entirety. Rather,… Continue Reading

SEC Comforts Appointed Board Members of Municipal Issuers on Valentine’s Day

Posted in Regulatory Proposals

By LEN WEISER-VARON On February 14, 2013, SEC Chairman Elisse Walter at long last indicated, in testimony for the Senate Banking Committee, that the SEC’s final regulations regarding “municipal advisors” will “address ,,, the need for an exception” to the definition of “municipal advisor” for appointed board members of municipal securities issuers.  This acknowledgment came… Continue Reading

Regulations Issued for Remote Participation in Meetings Subject to the Massachusetts Open Meeting Law

Posted in State Law

By JOHN R. REGIER The Massachusetts Attorney General recently promulgated regulations authorizing remote participation in meetings subject to the Open Meeting Law under certain prescribed circumstances. The Massachusetts Open Meeting Law has long required public bodies to conduct their business in meetings that are open to the public. They cannot, for example, take action by… Continue Reading