In Parts 1 and 2 of this series, we discussed the circumstances that led to the planned phase-out of the London Inter-bank Offered Rate, commonly referred to as “LIBOR” and the proposed replacement rate known as the Secured Overnight Financing Rate (“SOFR”). In this last part of the series, we will present the proposed language recommended by the Alternative Reference Rate Committee (“ARRC”) to be used in new contracts that reference LIBOR.
The New Jersey Constitution allows disabled veterans to benefit from special local property tax treatment in the form of a total exemption. The intent of the exemption, in part, is to compensate veterans for the experiences of war and to acknowledge their sacrifices.
The biggest threat I have with my kids is to take away their phones. Now, apparently a New Jersey Mayor feels the same way, trying to confiscate phones during public meetings.
Public records requests remain a minefield of issues for both the custodian and the requestor. Custodians must follow a step-by-step process to ensure compliance with the law and requestors must be specific or they may not obtain the documents they seek.
Communities in New Jersey have long been in need of a means to help mitigate the effects of stormwater runoff.
On April 9, 2019, the New Jersey Economic Development Authority (NJEDA) authorized the creation of a revised Brownfields Loan Program (the "Program") to provide low-interest financing to borrowers in an effort to facilitate remediation of vacant or underdeveloped brownfields sites and return such sites to full and productive use, particularly in the under-served communities within the State. The Program is an expansion of the NJEDA's existing Brownfields Loan Program.
Local businesses within a commercial corridor looking to revitalize the economic, physical, and social value of its business should encourage their respective municipality to form Improvement Districts (“ID”).
On January 17, 2019, Governor Phil Murphy and Legislative Leaders announced the collective decision to raise the minimum wage rate in New Jersey from $8.85 per hour to $15 per hour for most businesses over a five (5) year period. On January 24, 2019, the New Jersey Assembly's Labor Committee approved legislation (Assembly Bill A-15) that would implement the minimum wage increase. If approved by other Legislative Committees, passed by both the full Assembly and Senate, and signed into law by the Governor in its present form, key provisions of Bill A-15 include the following
Aging infrastructure, rising sea levels, polluted stormwater runoff, and the impact of more intense weather events have created an urgent need for New Jersey to address its stormwater infrastructure.
Public Finance Shareholder Jeffrey Winitsky explains the newly adopted amendments to Rule 15c2-12 of the U.S. Securities and Exchange Commission Act of 1934 that effect reporting requirements for municipal bond issuers.