Searching Content indexed under Government, Public Sector by Goodwin Procter LLP ordered by Published Date Descending.
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New Iran Sanctions Law Closes Foreign-Subsidiary Loophole, Requires Disclosure Of Iran-Related Activities To SEC
On August 10, 2012, the President signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012 (the "Act").
United States
21 Aug 2012
Tips To Manage Compressed Due-Diligence Periods
When the 775-room New York Helmsley Hotel in midtown Manhattan went up for sale, Host Hotels & Resorts snapped it up for US$313.5 million.
United States
9 Apr 2012
Casinos Coming To Massachusetts: The Current State Of Play
Notwithstanding its Puritan past and despite substantial opposition, Massachusetts has legalized casino gambling. The legislation authorizing the building of casinos was passed and signed into law in November 2011.
United States
4 Apr 2012
Real Estate Development And The Demise Of California's RDAs
On December 29, 2011, in the case of California Redevelopment Association v. Matosantos, the California Supreme Court upheld Assembly Bill ABX1 26 ("AB 26"), which provides for the termination of all California redevelopment agencies ("RDAs").
United States
9 Feb 2012
California Supreme Court Upholds Legislation Disbanding Redevelopment Agencies
On December 29, 2011, the California Supreme Court upheld legislation that disbanded redevelopment agencies ("RDAs") and allowed the State of California to take $1.7 billion in redevelopment funds, funneling it into the State’s General Fund.
United States
9 Jan 2012
Jefferson County, Alabama, Files Historic Municipal Bankruptcy
Jefferson County, Alabama, has filed for Chapter 9 bankruptcy protection after failing to reach a final agreement on terms with creditors to settle a $3.14 billion sewer-system bond debt.
United States
23 Nov 2011
California Budget Faces Mounting Legal Challenges
At least three different groups recently have filed lawsuits challenging various aspects of the current California budget for fiscal year 2011-12.
United States
25 Oct 2011
IRS Okays California BABs Remarketing
The Internal Revenue Service recently issued a private letter ruling to the State of California that permits the State to remarket $132 million of taxable Build America Bonds ("BABs") issued in 2009 and 2010.
United States
25 Oct 2011
President's Debt Reduction Plan Threatens Muni Market
President Obama recently delivered a draft of his Plan for Economic Growth and Deficit Reduction (the "Debt Reduction Plan") to Congress. The Debt Reduction Plan provides for a steady reduction of the nation’s outstanding debt as a percentage of gross domestic product.
United States
25 Oct 2011
Public Finance Update - September 2011
The Federal Reserve recently initiated a "sell short, buy long" bond strategy in an effort to stimulate the current stagnant economy.
United States
4 Oct 2011
Public Finance Update - August 2011
The California Supreme Court (the "Court") has agreed to hear a lawsuit challenging the constitutionality of Assembly Bill No. 26 ("ABX1 26") and Assembly Bill No. 27 ("ABX1 27") (collectively, the "Redevelopment Bills").
United States
5 Sep 2011
Financial Services Alert - w/c 8/17/2011
The FRB issued an interim final rule (the "Rule") that establishes FRB regulations for savings and loan holding companies ("SLHCs") and their non-depository subsidiaries.
United States
17 Aug 2011
S&P Downgrades U.S. Credit – Muni Bonds Hang Tough
On Friday, August 5, Standard & Poor’s Ratings Services ("S&P") announced that, for the first time in history, it had lowered the rating of the United States’ sovereign debt. S&P announced the downgrade, from AAA to AA+, shortly after President Obama signed a bill raising the country’s borrowing limit and reducing federal spending – the culmination of a months-long Congressional battle between the two major political parties.
United States
16 Aug 2011
Public Finance Update - July 2011
As Congress continues its standoff regarding the country’s debt ceiling, Moody’s Investors Service has placed five triple-A states under review for a possible downgrade in light of their dependence on the ability of the United States to pay its bills.
United States
4 Aug 2011
Lawsuit Challenging Redevelopment Bills Imminent
The California Redevelopment Association ("CRA") recently announced that, in conjunction with the League of California Cities, it is nearing completion of a lawsuit (the "Lawsuit") that will challenge the constitutionality of Assembly Bill No. 26 ("ABX1 26") and Assembly Bill No. 27 ("ABX1 27") (collectively, the "Redevelopment Bills").
United States
20 Jul 2011
Agencies Extend Risk Retention Rulemaking Comment Period
In April, the OCC, FRB, FDIC and SEC, in conjunction with the Federal Housing Finance Agency and the Department of Housing and Urban Development (the "Agencies"), issued a notice of proposed rulemaking (the "NPR") to implement the credit risk retention requirements of Section 941 of the Dodd-Frank Act.
United States
13 Jul 2011
Governor's Revised Budget No Help To California's Shrinking Bond Market
California Governor Jerry Brown released his revised State budget earlier this month. Under the proposal, Governor Brown plans to reduce general obligation bond sales by approximately 60%.
United States
3 Jun 2011
Public Finance Update - April 2011
The U.S. House of Representatives recently approved Representative Paul Ryan’s 2012 budget proposal. Ryan’s proposal, dubbed "The Path to Prosperity," is the latest in a string of Republican proposals that emphasize tax reform as a path to recovery.
United States
4 May 2011
Public Finance Update - March 2011
As April 2011 draws near, Governor Jerry Brown continues to pressure California lawmakers to adopt his proposals to cure the State’s budgetary woes. Among the Governor’s more controversial ideas is his proposal to eliminate redevelopment agencies State-wide.
United States
5 Apr 2011
California's New Budget: Good Medicine or Temporary Relief?
Governor Schwarzenegger has finally signed a budget for California, a record 100 days after the deadline. However, according to a report recently released by California’s Legislative Analyst’s Office, most of the solutions for the current $19 billion budget deficit are "one-time or temporary in nature," which means California will likely face similarly large budget deficits in upcoming fiscal years.
United States
3 Nov 2010
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