Federal Tax Reform: What’s at Risk

An issue paper created by the BDA identifying what’s at risk when it comes to the future of tax exemption. Download PDF

Tax Credit Bonds are a Flawed Financing Mechanism

A paper created by Nixon Peabody for the Bond Dealers of America identifying the inefficiencies in tax credit bonds. Download PDF

Sequestration Memo

A summary prepared by Nixon Peabody on the potential ramifications of sequestration on BABs and other direct pay bonds & implications for tax reform. Download PDF

Key Tax Reform/Deficit Reduction Proposals

A summary of key tax reform proposals (as of August 1, 2012) in a quick guide. Download PDF

Summary Report on Jefferson County, AL, Chapter 9 Proceedings

A memorandum prepared for BDA firms by Nixon Peabody telling the story of Jefferson County. The preliminary skirmishes in JeffCo are now behind us, but its future path is still hard to map out. However, with each ruling issuers and purchasers of municipal debt gain valuable guidance about how various types of municipal debt might…
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Letter from Joint Committee on Taxation

A Joint Committee on Taxation memorandum to the Senate Finance Committee analyzes the revenue effects and tradeoffs from, collectively, (1) repeal of the alternative minimum tax, (2) repeal of the overall limitation on itemized deductions for certain taxpayers, (3) repealing all itemized deductions; (4) taxing capital gains and dividends as ordinary income, and (5) repealing…
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Tax-Exempt Bonds: Their Importance to the National Economy and to State and Local Governments

National Association of Bond Lawyers paper examining tax-exempt bonds and their importance to the national economy and to state and local governments. Download Summary Download White Paper

Recent Bankruptcies and Defaults Raise Concerns Over General Obligation Bonds

A FirstSouthwest Company white paper discussing recent bankruptcies and defaults, which have raised concerns over general obligation bonds. This paper is intended to provide an understanding of the background and effects of such distressed credits. Download PDF

Industry group pushes to protect tax-free status of municipal bonds

They’re a tax advantage for rich investors and a time-honored way of financing expensive public infrastructure improvements. But tax-exempt municipal bonds could become the baby that’s thrown out with the bath water of fiscal reform, some bond dealers and local government officials fear. The re-election of President Barack Obama increased the odds that Congress will…
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New Issue Bond Purchase Program: A Tremendous Story of Success

As documented in this report, NALHFA’s participation in the Treasury/Government Sponsored Enterprise’s New Issue Bond Purchase (NIBP) program (also known as the HFA Initiative) is a tremendous story of success. Download PDF

MBFA Unveils Interim Executive Committee

A cross section of municipal bond issuers and State and local officials responsible for building and operating America’s public infrastructure have united with municipal bond professionals from regional securities dealers to help lead Municipal Bonds for America (MBFA), a new, national coalition working to protect the tax exempt status of municipal bonds. New York City…
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