Build America Bonds
A one hour interactive presentation on "Build America Bonds"
The State of Pennsylvania's Office of General Counsel’s finance practice group will be offering a one hour interactive presentation on "Build America Bonds" on Tuesday November 17th, 2009 from 1:00 p.m. to 2:00 p.m.
Location:
PHFA Board Room
211 North Front Street
Harrisburg, PA 17101
The Build America Bonds program was created as part of the American Recovery and Reinvestment Act of 2009. The Program allows issuance of taxable bonds, in lieu of traditional tax exempt bonds, to finance certain capital expenditures of state and local governments. This program will offer perspective of bond and tax counsel and an investment banker on the background of these new financing tools, the tax implications, the pros and the cons of using these financing tools and the effect of the Build America Bonds on the overall tax exempt market. We will also explore Internal Revenue Service guidance regarding the use of Build America Bonds and information about claiming the federal subsidy payments.
Topics
Tax counsel, bond counsel and an investment banker with direct experience in the Build America Bonds ("BABs") program will explore the following topics:
- What are Build America Bonds?
- What are the statutory and regulatory features of these new financing tools?
- What are the purposes for which these bonds can be issued?
- What does the IRS guidance provide?
- How is the federal subsidy calculated and how are payments made?
- What types of security and structuring issues are presented by this new financing tool?
- What tax issues arise in the context of Build America Bonds?
- How is the market reacting to this new tool?
- What short term and long term impacts have BABs had on the tax exempt market?
Presenters include:
- Suzanne Mayes, Esquire, Cozen O'Connor
- Alan Jaffe, Vice President, Goldman, Sachs & Co.
- David Unkovic, Esquire, Cozen O'Connor
Contact
For details, directions, or to register for this presentation, please contact by email both ajohnson@phfa.org and jamacginnes@state.pa.us.