Elizabeth S. Blutstein, Partner


Elizabeth Blutstein is a public finance attorney specializing in tax-exempt bond transactions for nonprofit 501(c)(3) organizations. Although Liz has extensive experience in many aspects of conduit qualified private activity bond tax-exempt financing transactions, Liz’s practice focuses on transactions for 501(c)(3) tax-exempt organizations. Liz’s public finance experience includes

  • Counsel to 501(c)(3) borrowers, such as hospitals, clinics, multimember healthcare systems, senior living facilities, educational institutions, and cultural facilities; in tax-exempt and taxable financing transactions, as well as counsel to borrowers with post-issuance tax compliance matters, including private use analysis, remedial action requirements, and management contract review; and ongoing document compliance matters, including review of master trust indenture covenants and requirements, continuing disclosure obligations, and reporting requirements
  • Serving as bond counsel and issuer’s counsel for the Wisconsin Health and Educational Facilities Authority (“WHEFA”)
  • Serving as bond counsel and underwriter’s counsel in conduit bond transactions of local housing authorities, community development authorities, and redevelopment authorities on tax-exempt financings for affordable housing, senior living facilities, health care facilities, or cultural facilities
  • Representing lenders as purchaser’s counsel or as underwriter’s counsel in privately placed or publicly offered tax-exempt or taxable debt transactions

Legal Services

Education and Honors

  • George Washington University Law School (J.D., 1988)
    • with highest honors
    • Order of the Coif
    • George Washington Journal of International Law and Economics (Editor)
  • University of Wisconsin (B.A., 1985)

Bar Admissions

  • Illinois
  • Wisconsin

Professional and Civic Activities

  • American Bar Association (Member)
  • State Bar of Wisconsin (Member)
  • Illinois State Bar Association (Member)
  • National Association of Bond Lawyers (Member)
  • Healthcare Financial Management Association (Member)
  • Women in Public Finance - Wisconsin Chapter (Member)

Professional Recognition

  • Recognized as Best Lawyers® 2017, 2019 Milwaukee Public Finance Law "Lawyer of the Year"
  • Listed in The Best Lawyers in America® (2008–present: Public Finance Law)
  • Selected by The Business Journal of Milwaukee as one of its "40 Under 40"
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