Category: Legal Alerts

Build America Bonds Take Center Stage

March 22, 2010 By James T. Giel In Legal Alerts

Background As part of the American Recovery and Reinvestment Act of 2009 (“ARRA”), Congress added Section 54AA of the Internal Revenue Code of 1986, as amended (the “Code”), permitting a state or local government, including school districts, to issue anew type of taxable obligation called Build America Bonds (“BABs”) to […]

Arizona Anti-Deficiency Saga Plays Out Like Primetime Drama – Existing Statute Changed, Then Change Repealed, Future Uncertain

September 22, 2009 By Christopher M. McNichol In Legal Alerts

Prologue: This summer, the state legislature grappled with changing Arizona’s anti-deficiency law, which protects homeowners who lose their homes in foreclosure from paying a “deficiency” on the property. A “deficiency” is the difference between the secured debt and the greater of the sale price or the home’s fair market value. […]

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