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Treasury to Suspend Sales of State and Local Government Series Securities (“SLGS”)

The U.S. Department of the Treasury (the “Treasury”) recently announced the suspension of sales of SLGS nonmarketable Treasury securities, effective 12:00 noon Eastern Time, March 13, 2015, until further notice. The Treasury stated in its announcement that suspension is necessary due to the statutory debt ceiling. The Treasury noted that subscriptions for SLGS received prior…

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MS&H Lawyers Named “Rising Stars” for 2015

McKennon Shelton & Henn LLP has announced that two of the firm’s attorneys, David Gregory and Fabian Walters, have been selected for inclusion among Maryland Super Lawyers’ “Rising Stars” for 2015.  Mr. Gregory and Mr. Walters were also named Rising Stars in 2012, 2013, and 2014. Super Lawyers is a rating service of outstanding lawyers from more…

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U.S. News & World Report Names MS&H One of 2015’s Best Law Firms

McKennon Shelton & Henn LLP has been nationally recognized by U.S. News & World Report and Best Lawyers magazines as one of the 2015 “Best Law Firms,” an accolade founded on “professional excellence with persistently impressive ratings from clients and peers.”  This award is a true testament to the firm’s mission to provide only the…

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SEC Launches MCDC Initiative

On March 10, 2014, the Division of Enforcement (the “Division”) of the Securities and Exchange Commission (the “SEC”) launched the Municipalities Continuing Disclosure Cooperation Initiative (the “MCDC Initiative”) to address potential violations of federal securities laws by municipal issuers and underwriters of municipal securities in connection with representations about continuing disclosures in bond offering documents.…

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Proposed Repeal of Tax Exemption for Advance Refunding Bonds

Earlier this year, draft legislation referred to as the Tax Reform Act of 2014 (the “Tax Reform Act”), was released that proposes to amend major portions of the Internal Revenue Code to provide for comprehensive tax reform. We have focused on proposed changes affecting the tax-exempt bond provisions of the Internal Revenue Code, specifically, the…

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Tax-Exempt Organizations: IRS issues reminder that SSNs should not be included in Form 990 filings; MS&H enhances its Tax-Exempt Organization Practice

With the May 15th filing deadline fast approaching for many exempt organizations, the IRS issued a reminder on April 29th that exempt organizations should not include social security numbers on their form filings. By law, both the IRS and most tax-exempt organizations are required to publically disclose most parts of form filings, including Form 990…

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Damian Mark Joins MS&H

Damian J. Mark., Esq., a former partner of Whiteford, Taylor & Preston L.L.P., and the former Co-Chair of that firm’s public finance practice group, has joined Mckennon, Shelton & Henn LLP as a partner. Damian concentrates his practice in public finance transactions, including the tax-exempt financing of various projects for municipalities, CCRCs, universities, hospitals and public…

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MSRB Amends Rule G-11 Seeking to Enhance Market Transparency Regarding Consent

Notwithstanding objections from certain market participants, effective February 3, 2014, the Municipal Securities Remarketing Board is amending MSRB Rule G-11 by adding new section (I) which will generally prohibit dealers from providing consent to any amendment to authorizing documents for municipal securities, either in the capacity as underwriter, remarketing agent, an agent for bondholders, or…

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New Partner Announcement at MS&H

McKennon Shelton & Henn LLP is pleased to announce that David W. Gregory has been promoted to partner effective January 1, 2014.  “Since joining the firm in 2006, David has demonstrated a capacity to acquire new skills and knowledge, particularly, to focus his intellectual curiosity to our public finance and corporate clients,” says Paul Shelton,…

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