Taxable Municipal Bonds: State and Local Governments Confront the Tax-Exempt Limitation Movement

1990 ◽  
Vol 50 (1) ◽  
pp. 42 ◽  
Author(s):  
Robert L. Bland ◽  
Li-Khan Chen
Keyword(s):  
Local Governments ◽  
Municipal Bonds ◽  
Tax Exempt ◽  
State And Local

The Constitutionality of Uncompensated §179D(d)(4) Allocations by State, Local, and Municipal Government Building Owners

2018 ◽  
Vol 16 (1) ◽  
pp. 1-16
Author(s):  
Edward B. Douthett ◽  
Jonathan E. Duchac ◽  
Arthur Petzel
Keyword(s):  
Energy Efficient ◽  
Local Governments ◽  
Municipal Government ◽  
Policy Changes ◽  
State Constitutions ◽  
Cost Of Energy ◽  
Tax Exempt ◽  
Tax Deductions ◽  
State And Local ◽  
Reasonable Argument

ABSTRACT Internal Revenue Code §179D provides accelerated tax deductions to building owners that invest in energy efficient building improvements. However, the value of this incentive for government building owners is limited as these entities are tax exempt. §179D(d)(4) allows state and local governments to realize a portion of these benefits by transferring their §179D deductions to a qualified, taxable, private sector entity in exchange for compensation. This compensation can be used to reduce the governmental entity's cost of energy efficient investments, allowing them and, ultimately, taxpayers to benefit from this incentive. In practice, disagreement exists over a governmental entity's right to compensation in exchange for §179D(d)(4) transfers. These differences have become more visible in recent years, resulting in policy changes by state and local governments, and litigation by state agencies that had not been compensated for these transfers. We contribute to this debate by reviewing and evaluating (1) the arguments against providing compensation in exchange for §179D(d)(4) transfers, (2) the state constitutionality of uncompensated §179D(d)(4) transfers, and (3) recent litigation and policy changes. Our analysis finds little support for arguments against compensated transfers, and a reasonable argument that compensated transfers may be required under most state constitutions.

Tax Reform: Implications for the State-Local Public Sector

1987 ◽  
Vol 1 (1) ◽  
pp. 87-100 ◽  
Author(s):  
Paul N Courant ◽  
Daniel L Rubinfeld
Keyword(s):  
Public Sector ◽  
Local Governments ◽  
Tax Reform ◽  
Metropolitan Areas ◽  
The State ◽  
Sales Tax ◽  
Revenue Sources ◽  
Tax Exempt ◽  
Aggregate Effect ◽  
State And Local

We analyze the effects of the Tax Reform Act of 1986 on the level and distribution of state and local spending, and on the mix of revenue sources employed by state and local governments. We expect state and local spending to fall by between 0.9 percent and 1.9 percent, with the lower end of the range the more plausible. The conclusion that aggregate spending is unlikely to change very much does not imply that the Tax Reform Act is unimportant to the state and local public sector. The fiscal and economic circumstances of state and local governments vary enormously, and the federal tax reform will therefore affect them very differently. The relative fiscal attractiveness of localities within metropolitan areas will be altered. From both efficiency and equity perspectives, these effects on local governments are likely to be much more important than the aggregate effect on either state or local spending. Over the longer run, apart from the obvious incentive to move away from the nondeductible sales tax to other deductible taxes, the effect of tax reform on the mix of revenue instruments is difficult to predict. The new tax bill also has major implications for bond financing as it it limits the use of the tax-exempt bond instrument.

Discriminations in Federal Taxation of State and Local Government Securities

1942 ◽  
Vol 36 (2) ◽  
pp. 302-312
Author(s):  
Alfred G. Buehler
Keyword(s):  
Local Government ◽  
Local Governments ◽  
Income Tax ◽  
High Time ◽  
Future State ◽  
Tax Exempt ◽  
State And Local Government ◽  
Federal Taxation ◽  
State And Local ◽  
New Phase

The battle over the tax-exempt security between the federal and the state and local governments has entered a new phase. Not content with merely taxing the income of new federal securities issued after March 1, 1941, the President, in his budget message to Congress of January 6, 1942, recommended legislation which would tax future state and local government securities, and the Secretary of the Treasury, in a speech in Cleveland on January 24, 1942, declared that it was high time to tax the income of outstanding issues as well. Up to this point, it had been the policy of the Administration to request only that the income tax be applied to future state and local government obligations.

Post-recession policy diffusion: local government adoption of build America bonds

2016 ◽  
Vol 28 (2) ◽  
pp. 209-229 ◽  
Author(s):  
Robert A. Greer ◽  
Jekyung Lee
Keyword(s):  
Local Governments ◽  
Policy Diffusion ◽  
Cost Savings ◽  
The United States ◽  
Fiscal Policies ◽  
The Great Recession ◽  
Tax Exempt ◽  
State And Local ◽  
United States Federal Government ◽  
Model Approach

To resolve the limited access to capital by local governments due to the Great Recession, the United States Federal Government responded with the American Recovery and Reinvestment Act (ARRA) which included the Build America Bond (BAB) program. The result of this program was considerable interest cost savings to state and local governments, but many local governments chose to issue traditional tax-exempt bonds instead of BABs. Using a policy diffusion framework and hazard model approach, we identify factors that affected the speed of BAB adoption by local governments. Results show that underwriter and financial adviser experience along with the internal characteristics of the local governments played a significant role in adoption. These findings have implications for future fiscal policies targeting local governments for the purpose of timely economic recovery.

Guns on Campus: Surveying a rugged post-Heller/ McDonald landscape

2013 ◽  
Vol 45 (1-2) ◽  
pp. 77-108 ◽  
Author(s):  
Leif Magne Lervik
Keyword(s):  
Local Governments ◽  
Public Colleges ◽  
Concealed Weapons ◽  
Second Amendment ◽  
Academic History ◽  
Recent Developments ◽  
State And Local ◽  
Public Colleges And Universities ◽  
The Right ◽  
The U.S

In June 2008, the U.S. Supreme Court ruled that the Second Amendment to the U.S. Constitution guarantees an individual the right to keep and bear arms. Two years later, this decision was also made applicable to state and local governments. Today, seven U.S. states have provisions allowing the carrying of concealed weapons on their public senior high school campuses. This article, introduced by a brief comment on the Second Amendment’s legal and academic history, traces several recent developments of legal change. It discusses relevant arguments and attitudes towards guns on campus, and explores issues of future concern for public colleges and universities within the realm of firearms and campus safety.

scholarly journals Relationships among the Degree of Participation in Physical Activity, Self-Concept Clarity, and COVID-19 Stress in Adolescents

Healthcare ◽  
2021 ◽  
Vol 9 (4) ◽  
pp. 482
Author(s):  
Dae-Jung Lee
Keyword(s):  
Physical Activity ◽  
High School Students ◽  
Local Governments ◽  
Online Survey ◽  
Self Concept ◽  
Obsessive Compulsive ◽  
School Students ◽  
Compulsive Disorder ◽  
Negative Effect ◽  
State And Local

The COVID-19 pandemic situation threatens the health of people globally, especially adolescents facing mental problems such as depression, anxiety, and obsessive-compulsive disorder due to constant COVID-19 stress. The present study aimed to provide basic data highlighting the need to alleviate COVID-19 stress among adolescents by promoting physical activity participation and strengthening self-concept clarity (SCC). To examine the relationships among participation in physical activity, SCC, and COVID-19 stress in pandemic-like conditions, the study was conducted on middle and high school students aged 14 to 19 and an online survey was conducted on 1046 Korean adolescents (521 male and 525 female students in the preliminary survey and main survey). Frequency, reliability, confirmatory factor, descriptive, and path analyses were performed using SPSS and AMOS 18.0. Participation in physical activity exerted a positive effect on SCC (p < 0.001) as well as a negative effect on COVID-19 stress (p = 0.031). Our findings also indicated that SCC exerted a negative effect on COVID-19 stress (p < 0.001). Regular participation in physical activity and strong SCC are also fundamental elements for alleviating COVID-19 stress. Given these results, state and local governments and educational institutions should encourage youth to participate in sports by suggesting policies, providing guidelines, and offering education. Such information may allow adolescents to endure and overcome COVID-19 stress during this critical period of life.

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