201102.01
0

Are You a Municipal Advisor?

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) may have a direct impact on you, your 501(c)3 organization, or your bond issuing authority.  On January 6, 2011, the Securities and Exchange Commission (“SEC”) issued proposed rules for the registration of municipal advisors. The proposed rules were part of the SEC’s implementation of…

201102.01
0

Why Banks Keep Buying Tax-Exempt Debt

Introduction:  Over the past two calendar years, commercial banks have been a significant source of tax-exempt financing for healthcare organizations. Driven by an expanded definition of “bank-qualified debt” provided in the American Recovery and Reinvestment Act of 2009, commercial banks issued approximately $70 billion of direct tax-exempt loans in 2009 and 2010. And, while the…