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 bond transactions of the Wisconsin Housing and Economic Development Authority (“WHEDA”) as well as bond counsel in conduit 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)

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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