103 Law

NP Law's attorneys specialize in the area of Section 103 of the Internal Revenue Code of 1986, as amended (Internal Revenue Code) with years of experience advising issuers, nonprofits, universities, developers, school districts and health care institutions on all aspects of tax-exempt financings, rules and regulations on both a local and national level. We have acted as special tax counsel to a variety of state and local issuers and have also provided our expertise to law firms on an ongoing basis. We have analyzed and participated in the most cutting edge tax-exempt financings in the nation, counseling our clients on the best way to leverage both public and private sources of funding. In addition, our attorneys have successfully represented clients on audits and have assisted in implementing post issuance compliance procedures.

We have analyzed issues from private business use, unrelated trade or business income to change in use issues for multiple types of Section 103 transactions, specifically in connection with (i) the financing of mixed use facilities, solid waste disposal facilities, stadiums, hospitals and certain output facilities; and (ii) the sale of tax-exempt financed property to private entities. We are well versed in all types of tax-exempt financings, constantly staying abreast of the changes in the rules and regulations. Our attorneys are also regular speakers at the National Association of Bond Lawyers conferences throughout the year and regularly participate in committees providing comments to the Internal Revenue Service on proposed amendments to regulations. Our attorneys are intimately familiar with, among others:

  • Arbitrage and rebate issues,
  • Private activity tests,
  • Refunding and working capital financings,
  • Reissuance,
  • Post issuance compliance,
  • Change in use rules,
  • Qualified school construction bonds,
  • Exempt facility bonds,
  • Qualified 501(c)3 bonds, and
  • Housing bonds.

Among our Services:

  • Tax Due Diligence
  • Preparation of Tax Questionnaires and all related tax documentation
  • Creative tax structuring to ensure both compliance with the Internal Revenue Code while providing the best and practical project financing solutions
  • Post-Issuance Compliance
  • Audits
  • Private Activity Analysis

Representative Experience:

  • Our attorneys were among the lead counsels representing Tripe Five Worldwide in undertaking an approximately $2.9 billion financing of the construction and development of an entertainment, retail and restaurant complex and an indoor amusement park and indoor water park located in New Jersey Meadowlands Sports Complex known as the "American Dream" project. Such financing included approximately $1.1 billion in tax-exempt financing. Our attorneys were instrumental in structuring the financing, negotiating multiple complex agreements, interfacing with various governmental agencies and orchestrating the closing of the tax-exempt components.
  • Our attorneys have regularly provided tax advice to the Public Finance Authority, the New Jersey Economic Development Authority, the New Jersey Health Care Facilities Financing Authority, the New Jersey Educational Facilities Authority, the New Jersey Higher Education Student Assistance Authority and numerous municipalities, universities, improvements authorities, housing authorities, counties, school districts and nonprofit organizations.

     

Contact Us

101 Eisenhower Parkway, First Floor
Roseland, New Jersey 07068
Phone: 973.358.2500