Friday, January 19

2:30PM - 5:30PM

Tax Exempt Financing

Chair:  Clifford M. Gerber, Sidley Austin LLP, San Francisco, CA

 

2:30pm                  Opening Remarks by the Chair.

2:35pm                  IRS and Department of Treasury Update.  This panel will discuss current developments in tax-exempt bonds, including the progress of items in the 2006-2007 Priority Guidance Plan.  Panelists:  John J. Cross III, Associate Tax Legislative Counsel, Office of Tax Policy, Department of Treasury, Washington, DC; Rebecca Harrigal, Branch Chief, IRS, Washington, DC; Johanna Som de Cerff, Senior Technician Reviewer, Office of Chief Counsel, IRS, Washington, DC.

3:05pm                  Allocation and Accounting Regulations Project.  This panel will update the committee on the progress of the comment project on the proposed allocation and accounting regulations, including a discussion of any new issues.  Panelist:  Bruce M. Serchuk, Nixon Peabody LLP, Washington, DC.

3:20pm                  PILOT Regulations Project.  This panel will update the committee on the progress of the comment project on the proposed payment in lieu of taxes (“PILOT”) regulations, including a discussion of any new issues.  Panelist:  Linda B. Schakel, Ballard Spahr Andrews & Ingersoll LLP, Washington, DC.

3:35pm                  Essential Governmental Functions of States and Tribes.  This panel will discuss the varying interpretations of the term “essential governmental function” as applied to states and tribal governments.  Panelists:  Professor Ellen P. Aprill, Loyola Law School, Los Angeles, CA; John J. Cross III, Associate Tax Legislative Counsel, Office of Tax Policy, Department of Treasury, Washington, DC.

4:15pm                  Derivatives and Investment Products.  This panel will discuss current developments in derivatives and investment products.  Panelists:  John T. Lutz, McDermott Will & Emery LLP, New York, NY; Michael G. Bailey, Foley & Lardner LLP, Chicago, IL.

4:50 pm IRS Enforcement.  This panel will update the committee on current IRS enforcement initiatives.  The panel will also discuss, among other topics, the prospects for utilization of various alternative dispute resolution programs in the tax-exempt bond area.  Panelists:  Jeremy A. Spector, Blank Rome LLP, Philadelphia, PA; Clifford J. Gannett, Director, Tax-Exempt Bonds, IRS, Washington, DC.