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By Jeffrey D. Winitsky on March 20, 2020
Federal Reserve to Offer Liquidity Support for Certain Municipal Debt

Today, March 20, 2020, the United States Federal Reserve announced that it would intervene in an effort to provide liquidity and maintain interest rates in the state and municipal bond markets by supporting banks' purchase of certain municipal debt obligations.

By Jeffrey D. Winitsky on August 28, 2019
Changes to Timing for Payment of Non-Residential Tax Appeals by Municipalities  

On August 9, 2019, Governor Phil Murphy Assembly Bill A-2004, (the "Bill"), which now permits municipalities in New Jersey to pay non-residential property tax appeal refunds over a period of three years.   

August 6, 2019
The LIBOR Phase-Out:  Part 3

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.

By Natalia P. Teekah on May 3, 2019
Update: Governor Signs Clean Stormwater and Flood Reduction Act into Law Paving the Way for Stormwater Utilities

Communities in New Jersey have long been in need of a means to help mitigate the effects of stormwater runoff.

By Christopher R. Sullivan on February 27, 2019
Overview of the NJ Offshore Wind Tax Credit Program

Last month the New Jersey Economic Development Authority (NJEDA) announced that it would begin taking applications for tax credits through New Jersey's Offshore Wind Tax Credit Program (the "Program") from businesses that make a capital investment of at least $50 million dollars in certain qualified offshore wind facilities within Burlington, Camden, Gloucester, Salem, Cumberland, Mercer or Cape May counties. 

By Jeffrey D. Winitsky on February 19, 2019
NJEDA Announces Expansion of and Changes to Business Lease Incentive Program

On February 19, 2019, the New Jersey Economic Development Authority ("NJEDA") announced the expansion of the existing Business Lease Incentive Program (commonly known as the "BLI Program"). 

By Jeffrey D. Winitsky on January 24, 2019
Minimum Wage Increase Passes First Legislative Test

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

By Jeffrey D. Winitsky on November 9, 2018

On November 9, 2018, the New Jersey Economic Development Authority ("NJEDA") provided an outline of several new enhancements to its existing lending programs for small businesses in New Jersey. In particular, the NJEDA announced changes to its "Premier Lender Program" and its small business lending programs, as well as the implementation of the new "Access Program."

By Jeffrey D. Winitsky on August 20, 2018
SEC Amendments Add New Reporting Requirements for Municipal Bonds

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. 

By Jeffrey D. Winitsky on August 16, 2018
Positive Changes to Sewer and Water Connection Fee Laws for Redevelopment Projects

A recent change in the law now allows for all types of affordable housing development projects to get credits and reductions for sewer and water connection fees. Shareholder Jeffrey Winitsky explains. 

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