Addressing the Economic Crisis
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Stimulus Legislation & Opportunities Task Force
The Quarles & Brady Stimulus Legislation & Opportunities Task Force is dedicated to helping our clients evaluate and understand opportunities arising from the American Recovery and Reinvestment Act of 2009 (the “Recovery and Reinvestment Act”).
The Recovery and Reinvestment Act, which is commonly referred to as the “stimulus plan,” has been approved by Congress and will shortly be sent to the White House for President Obama’s signature. Draft proposals contemplate tax code changes and significant appropriations and spending, with particular emphasis on “shovel ready” projects on which dollars can be spent quickly, to stimulate the economy. The proposals under consideration include:
- Tax Relief – tax code changes to provide tax relief to individuals and businesses and to provide tax credits in connection with various clean energy activities;
- Municipal Bonds – changes intended to stimulate additional market demand for tax-exempt municipal bonds and tax-credit bonds (including QZABs and CREBs) and various new tax-credit bond programs for state and local governments;
- Schools – major school-related appropriations, for purposes including school modernization and repair, school technology funding and Title I grants;
- Native American Tribes – appropriations for Native American housing programs, school construction projects, Indian reservation roads, and other economic development and infrastructure projects with funds administered through the Bureau of Indian Affairs;
- Transportation and Infrastructure – major transportation and infrastructure appropriations, including $30 billion for highway projects and additional appropriations for airport improvements as well as mass transit and rail projects;
- Health Care and Health Technology – major health-related appropriations, including $20 billion for health information technology improvement and additional amounts for Medicaid matching payments; and
- Energy – significant energy and science appropriations, including funding for programs relating to energy efficiency, alternative fuels, carbon capture, and “smart grid” technologies.
Quarles is assisting our clients who work in the areas of real estate and construction, state and local government, Native American development, health services and technology and intellectual property to evaluate and identify opportunities the Recovery and Reinvestment Act may provide.
Please check back often for client alerts developed on this subject. The following publications address the Recovery and Reinvestment Act.
Treasury Guidance Regarding ARRA Bond Provisions
ARRA Economic Development – Solar Energy
ARRA Energy Initiatives in American Recovery
ARRA Science & Technology
New Broad Whistleblower Protection Related To Stimulus Funds
Auto Supplier Support Program
Treasury Releases Details of Public-Private Partnership to Purchase Toxic Assets
Stimulus Bond Program At A Glance: Build America Bonds, Tax Credit Bonds and Others Compared
Public Finance Provisions included in the American Recovery and Reinvestment Act of 2009: Information for Bond Issuers
Public Finance Provisions included in the American Recovery and Reinvestment Act of 2009: Information for Wisconsin Bond Issuers
Restructuring of the U.S. Financial Services Regulatory Structure
The American Recovery and Reinvestment Act: Bonding Opportunity Knocks for Indian Country
Renewable Energy, Energy Efficiency and Electricity Transmission Funding Opportunities in the American Recovery and Reinvestment Act of 2009
A Practical HIPAA Compliance “To Do” List: Covered Entities And Business Associates Have New Affirmative HIPAA Obligations Under President Obama’s Stimulus Package!
ARRTA Amends the Executive Compensation Restrictions of EESA
Public Finance Stimulus Legislation Changes: New “Bank Qualified” Limits and Changes to AMT Treatment
Tax provisions of the American Recovery and Reinvestment Act of 2009
Final Stimulus Bill Includes Significant Changes to COBRA Coverage
Stimulus Compromise Reached - Quarles & Brady Stimulus Task force Ready To Assist Clients
Q&B Stimulus Legislation and Opportunities Task Force Contacts:
The Stimulus Legislation & Opportunities Task Force complements Quarles’ other initiatives stemming from the financial crisis, namely:
- The Financial Services Task Force, whose mission is to help our clients understand the opportunities and restrictions accompanying that legislation, as well as the Troubled Assets Relief Program, or TARP.
- The Lender Liability Task Force, whose mission is to advise the Firm's financial institution clients on how to avoid and defend lender liability claims anywhere in the country.
For more information on how our Stimulus Legislation & Opportunities Task Force can help you, please contact Charles W. Herf at (602) 230-5581 or
or your Quarles & Brady attorney.