Public Finance, Tax Incentives and Credit Markets

Butler Snow offers a comprehensive and diverse public finance practice ranging from all forms of state and municipal bonds and obligations to the full complement of techniques available to finance and/or refinance governmental, healthcare, industrial/economic development, public-private partnerships, exempt facilities, utilities, public and private educational institutions, housing and other developments.  With 34 attorneys practicing full-time in our Public Finance, Tax Incentives and Credit Markets Group, Butler Snow has one of the largest and most successful public finance practices in the country.  

Our attorneys have represented state and local governmental entities, financial institutions, 501(c)(3) nonprofit institutions and other public finance participants in a myriad of public financing matters.  The Butler Snow team prides itself on how we couple our public finance expertise with our commitment to the coordinated utilization of all resources of the Firm to best serve our clients’ needs.  This synergy helps us understand clients’ needs more thoroughly, and deliver targeted legal services that more effectively support those needs.

Butler Snow Public Finance, Tax Incentives and Credit Markets Group regularly serves as bond counsel and disclosure counsel to issuers of state and municipal bonds, including states, their political subdivisions, special districts and authorities. We also provide guidance and advice regarding continuing disclosure matters and post-issuance federal tax compliance.  

Butler Snow routinely serves as underwriter’s counsel to many of the largest national and regional investment banking firms involved in public finance transactions, including assisting our clients in preparing securities offering documents to be used in the offering and sale of bonds and advising them as to their responsibilities under state and federal securities laws.  We also represent banks and other investors which purchase bonds in private placements.

Our attorneys focus on all types of tax and financing incentives offered by federal, state and local governments to encourage economic development.  Butler Snow regularly serves as bond counsel in connection with tax-exempt and taxable industrial development bond financing programs.  For over 25 years Butler Snow attorneys have represented companies locating or expanding facilities in connection with state and local financing programs, tax incentives and other financing transactions.  

We have substantial expertise in tax credit incentive financing transactions, which fund the development of commercial projects, historic rehabilitation projects, energy projects and affordable housing in low-income areas.  Our attorneys have been involved in tax credit financings totaling well over $1 billion in project costs.  We have expertise in leveraging these transactions with unique sources of funding such as: SBA Loans, USDA Loans, investment tax credits, energy related credits/grants, Community Development Block Grant (CDBG) monies, affiliate debt, and taxable and tax-exempt bond proceeds. 

In addition to our traditional public finance practice, the group works closely with the firm’s banking, commercial lending, taxation, real estate, business services, energy, governmental affairs, bankruptcy, environmental and other practice groups on highly structured financial products (including derivatives and special purpose vehicles), commodity swap transactions, synthetic fixed rate financings, project financing, letters of credit transactions, state and local tax incentives and abatements and other financing and transactional related matters, including restructurings and default workouts.

Within the Public Finance, Tax Incentives and Credit Markets Group, eight recognized tax law practitioners provide advice with respect to structuring bond issues to comply with federal income tax laws applicable to tax-exempt bonds, state and federal economic development incentives, and tax credit incentive financing transactions.  Our tax lawyers are available to assist with every type of municipal financing transaction, and tax credit financing transaction, regardless of the nature of the financing and the geographic location.

Areas of expertise within our Public Finance, Tax Incentives and Credit Markets practice include the following:

  • Governmental Bonds
  • Industrial Development Bonds
  • Hospitals/Healthcare Facilities 
  • Utilities/Energy
  • Public Education
  • Higher Education
  • Airports
  • Convention  and Sport Facilities
  • Housing Financing
  • Public Finance Tax
  • Arbitrage Rebate Services
  • Economic Development Incentives
  • Tax Credits
  • Public-Private Partnerships
  • Structured Financial Transactions
  • Post-Issuance Compliance and Default/Workout Practice
  • Securities Laws

For additional information on Public Finance, Tax Incentives and Credit Markets, please contact John F. England.

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