Insights Past Issues

  • News
    July 2021

    We are pleased to share highlights of the firm’s environmental, community, and justice initiatives over the past year. Chapman’s Social Impact and Sustainability Communication on Progress report was prepared with guidance from our Social Impact and Sustainability Task Force and is part of Chapman’s commitment to the United Nations Global Compact.

  • Chapman Insights
    May 25, 2021

    As Environmental, Social and Governance (ESG) performance becomes more prominent, institutional investors, asset managers, financial institutions, and other stakeholders are increasingly looking at ESG factors in making investment and lending decisions. In doing so, these entities are relying on a number of information sources, including ESG ratings and reports.

  • Chapman Insights
    April 22, 2021

    At today’s Earth Day Climate Summit, President Joe Biden announced to world leaders that the United States is committed to cutting its greenhouse gas emissions by 50% to 52% from 2005 levels by 2030.

  • Chapman Insights
    April 20, 2021

    Last week the Loan Syndications and Trading Association, the Loan Market Association, and the Asia Pacific Loan Market Association jointly published their first ever Social Loan Principles.

  • Client Alert
    April 14, 2021

    On April 9, 2021, the Securities and Exchange Commission Division of Examinations issued a Risk Alert highlighting observations made by the Division from recent examinations of investment advisers, registered investment companies, and private funds offering products and services that incorporate environmental, social, and governance factors.

  • Chapman Insights
    March 25, 2021

    The Securities and Exchange Commission this month announced that the Divisions of Corporation Finance, Examinations, and Enforcement are all undertaking climate or ESG-related initiatives. 

  • Client Alert
    March 16, 2021

    The Department of Labor announced that it will not enforce its previously issued final rule regarding plan fiduciaries’ use of environmental, social and governance factors in selecting investments for tax‑qualified retirement plans.

  • Chapman Insights
    March 2, 2021

    Environmental, Social and Governance investing in the United States has reportedly reached an estimated $250 billion in assets under management and is expected to see continued growth in 2021 and beyond. 

  • Client Alert
    November 9, 2020

    On October 30, the Department of Labor issued a final rule which amends its 1979 investment duties regulation under the Employee Retirement Income Security Act of 1974, as amended, to update and clarify its position with respect to ERISA plan fiduciaries’ use of environmental, social and governance factors in selecting investments.

  • Client Alert
    January 28, 2020

    The IRS has released a new Form 8038-CP, Return for Credit Payments to Issuers of Qualified Bonds, along with new instructions. Form 8038-CP is used by issuers to claim payments from the federal government representing all or a portion of interest payable on direct pay bonds

  • Article
    April 2019

    Pension shortfalls. Crumbling infrastructure. Wage pressures. These are only a few of the budgetary pressures facing state and local governments. It’s no surprise that, with so many demands on limited tax dollars, funds needed to address social problems are being diverted.

  • Client Alert
    September 21, 2018

    Earlier this month, Governor Jerry Brown of California signed into law a bill that sets some of the strongest clean energy standards in the world. Senate Bill 100 requires that one hundred percent of all retail sales of electricity in California come from clean energy sources by 2045.

  • Article
    Pratt's Energy Law Report
    July 2018

    On February 9, President Trump signed into law the Bipartisan Budget Act of 2018 which retroactively extended some temporary tax breaks and includes some additional provisions which were left out of the Tax Cuts and Jobs Act of 2017. 

  • Article
    Law360
    February 5, 2018

    In bankruptcy cases where a not-for-profit corporation is closely related to or controlled by a governmental unit, a creditor may challenge the not-for-profit corporation’s bankruptcy eligibility, arguing that the not-for-profit corporation is, in substance, a “governmental unit” and therefore not eligible to file a Chapter 11 petition.

  • Client Alert
    January 11, 2018

    As state and local governments seek more creative financing methods for economic development projects, some have turned to the formation of subsidiary entities that can provide financing assistance, potentially without triggering debt limits under state or local laws or violating covenants under existing financings.

  • Client Alert
    May 15, 2017

    On December 7, 2016, Public Act 99-0906 was enacted into law, with an effective date of June 1, 2017. The Act calls for updates to Illinois’ Renewable Portfolio Standard, net metering, and energy efficiency standards, as well as a new zero emissions credits plan. 

  • Article
    Pratt's Energy Law Report / LexisNexis Emerging Issues Analysis
    May 2017

    The Future Energy Jobs Bill was enacted into law on December 7, 2016, as Public Act 99-0906, with an effective date of June 1, 2017. The Act calls for updates to Illinois’ renewable portfolio standards, net metering, and energy efficiency standards, as well as a new zero emissions credits plan.

  • White Paper
    April 2017

    This white paper addresses pay for success legislation that has been adopted at the state level, pointing out the various functions of the pay for success financing structure and how individual states have treated these components within their legislation.

  • Client Alert
    February 21, 2017

    On February 14, two federal lawsuits were filed in Illinois challenging the legality of the Zero Emissions Credits program provided for under Illinois’ recently passed Future Energy Jobs Act (Public Act 99-0906). 

  • Client Alert
    January 18, 2017

    On January 17, 2017, the Internal Revenue Service released new safe harbor guidelines for determining whether a management contract results in private business use of property for purposes of the federal income tax rules relating to tax-exempt bonds.

  • Client Alert
    September 2, 2016

    On August 22, the Internal Revenue Service released new safe harbor guidelines for determining whether a management contract results in private business use of property for purposes of the federal income tax rules relating to tax-exempt bonds.

  • Client Alert
    August 9, 2016

    On June 22, President Obama signed into law the first major amendment to the Toxic Substances Control Act since its enactment forty years ago. The amendment, the Frank R. Lautenberg Chemical Safety for the 21st Century Act, is commonly referred to as “TSCA Reform.”

  • Article
    ACIC Private Notes
    May 2016

    Over the past several years, a number of public-private partnership transactions have been financed in the domestic and cross-border U.S. private placement market. Given the need for new infrastructure both domestically and abroad, we anticipate that the number of P3 transactions entering the U.S. private placement market will continue to rise over the coming years.

  • Client Alert
    Client Alert
    May 17, 2016

    In December 2015, Congress passed the Protecting Americans from Tax Hikes Act of 2015, which extended certain federal renewable energy tax credits for projects that began construction prior to the dates set forth in the Path Act. In response to that extension, the IRS has issued additional guidance with respect to a renewable energy facility’s eligibility to receive these tax credits.

  • Client Alert
    Client Alert
    August 5, 2015

    On August 3, 2015, President Obama announced the Environmental Protection Agency’s final rule to cut carbon emissions from the nation’s power plants under the Clean Air Act. 

  • Client Alert
    Client Alert
    July 1, 2015

    On June 29, 2015, the Supreme Court issued a ruling declaring that the Environmental Protection Agency interpreted the Clean Air Act unreasonably in refusing to consider costs when deciding whether to regulate power plant emissions in relation to the EPA’s Mercury and Air Toxics Standards.

  • Client Alert
    Client Alert
    March 19, 2015

    On March 16, 2015, the United States Environmental Protection Agency announced its new voluntary “Safer Choice” labels, which are intended to inform consumers about chemicals present in household and industrial products.

  • Client Alert
    Client Alert
    February 27, 2015

    As indicated in our January 20, 2015 Client Alert, the Obama Administration previously announced in general terms its Fiscal Year 2016 budget plans with respect to the maintenance and improvement of US public infrastructure.

  • Client Alert
    January 20, 2015

    On January 16, 2015, the Obama Administration announced in general terms its plans with respect to the maintenance and improvement of public infrastructure, including roads, bridges, ports, water purification plants, and reservoirs, all of which are deemed critical services by the Administration for consumers and businesses alike.

  • Client Alert
    Client Alert
    August 19, 2014

    Under the American Taxpayer Relief Act of 2012, qualified renewable energy generation facilities that began construction prior to January 1, 2014 are eligible to receive the renewable electricity production tax credit under section 45 of the Internal Revenue Code or, in lieu thereof, the energy investment tax credit under section 48 of the Code.

  • Client Alert
    Client Alert
    June 3, 2014

    On June 2, 2014, the United States Environmental Protection Agency issued a proposed a rule aimed at cuttingcarbon pollution from existing fossil-fuel fired power plants pursuant to President Obama’s Climate Action Plan.

  • Chapman Insights
    Chapman Insights
    November 21, 2013

    The majority of power generated in the United States historically has been, and continues to be, generated by large-scale, centrally located generation facilities.

  • Client Alert
    Client Alert
    September 25, 2013

    Pursuant to the American Taxpayer Relief Act of 2012, qualified facilities that begin construction before January 1, 2014 will be eligible to receive the renewable electricity production tax credit under section 45 of the Internal Revenue Code or, in lieu thereof, the energy investment tax credit under section 48 of the Code.

  • Client Alert
    Client Alert
    September 24, 2013

    On September 20, 2013, the Environmental Protection Agency proposed regulations aimed at reducing carbon pollution from new fossil-fuel power plants.

  • Client Alert
    Client Alert
    July 24, 2012

    The Internal Revenue Service recently released Notice 2012-44, which provides guidance concerning qualified energy conservation bonds. QECBs are taxable bonds that can be issued by state or local governments to finance certain energy conservation projects, including: (i) reducing energy consumption in publicly owned buildings by at least 20 percent; or (ii) implementing green community programs. QECBs may also be issued to finance certain electricity-producing facilities, such as wind facilities and solar facilities. 

  • Client Alert
    Client Alert
    July 18, 2012

    The Internal Revenue Service recently released Notice 2012-44, which provides guidance concerning qualified energy conservation bonds. QECBs are taxable bonds that can be issued by State or local governments to finance certain energy conservation projects, including: (i) reducing energy consumption in publicly-owned buildings by at least 20 percent; and (ii) implementing green community programs. QECBs may also be issued to finance certain electricity-producing facilities, such as wind facilities and solar facilities.

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