More Real Estate Coverage
-
June 27, 2024
Ill. Extends R&D Tax Credit, Adds Quantum Computing Credits
Illinois extended its research and development tax credit, expanded eligibility for a program that provides tax breaks to electric vehicle manufacturers and created tax credits for quantum computer component parts manufacturers under a bill signed by Gov. J.B. Pritzker.
-
June 27, 2024
NY Historic Building Rehab Tax Credits Apply Per Structure
New York's $5 million tax-credit cap for rehabilitation projects of historic properties is applied on a per-structure basis even if multiple structures are included on a single application, the state Department of Taxation and Finance said in a declaratory ruling.
-
June 27, 2024
Alaskan Land Trust Fight Remanded Over Misplaced Authority
An Alaska federal judge has vacated and remanded a decision from the U.S. Department of the Interior to take a 787-square-foot piece of land in downtown Juneau into trust for an Alaskan tribal government, saying the agency relied on an aboriginal title factor already established in a law designed to settle the state's land claims.
-
June 26, 2024
Insurers Look To Tech Solutions To Reduce Water Damage
Two insurers have announced new emphasis on property technology solutions in recent days as a strategy for reducing the risk from water damage, a major source of claims for property owners and operators that leads to billions of dollars in payouts each year.
-
June 25, 2024
Feds Transfer Nearly 12,000 Acres To Minnesota Tribe
A Native American tribe in northern Minnesota has added nearly 12,000 acres of forest land to its reservation following an agreement signed by the U.S. Forest Service.
-
June 25, 2024
Ariz. Lawmakers Say State Has No Interest In Monument Fight
The Arizona State Legislature says Gov. Katie Hobbs and Attorney General Kris Mayes can't show that they have an interest in lawsuits against President Joe Biden's proclamation designating an Indigenous site in the Grand Canyon region a national monument and they shouldn't be allowed to intervene in the litigation.
-
June 25, 2024
Military Families, Army Housing Managers Reach Settlement
A putative class of service members and their families, and a military housing landlord and the property managers urged a Virginia federal court on Tuesday to approve the global settlement of the putative class's claims alleging that the landlord and the property managers neglected the conditions of their military housing in a U.S. Army base in Fairfax, Virginia.
-
June 24, 2024
EPA Says Army Corps Doesn't Belong In Pebble Mine Dispute
The U.S. Environmental Protection Agency is urging an Alaska federal judge to refuse a mining company's bid to amend a lawsuit in order to reverse an Army Corps of Engineers decision denying the controversial Pebble Mine project a permit.
-
June 24, 2024
Ill. Landowners Challenge FERC Moves On $7B Power Line
Illinois residents, farmers and landowners launched a fresh challenge to the $7 billion Grain Belt Express high-voltage power line, telling the D.C. Circuit that when the Federal Energy Regulatory Commission approved an amended negotiated rate authority, it ignored clean energy giant Invenergy's unsanctioned purchase of the project in 2020.
-
June 24, 2024
La. To Provide Sales Tax Rebates For Data Center Purchases
Louisiana will provide state and local sales and use tax rebates for taxes paid on the lease or purchase of eligible data center equipment and the development, acquisition or repair of qualified data centers under a bill signed by the governor.
-
June 24, 2024
IRS Finalizes Limits To Partnership Conservation Easements
The Internal Revenue Service finalized rules Monday that curb the conservation easement tax deduction claimed by certain partnerships, with some changes to last year's proposed version, such as limiting the opportunity for entities to adjust their tax returns to avoid the new restrictions.
-
June 21, 2024
Fed Circ. Revives Gov't Defenses In Land Underpayment Case
The Federal Circuit on Friday revived a dispute alleging that the U.S. Forest Service underpaid for a property, saying the U.S. Court of Federal Claims wrongly rejected the agency's arguments that the seller shouldn't have relied on a disputed appraisal when selling.
-
June 21, 2024
Property Plays: The Mark Hotel, Oak Row, Bain Capital
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
-
June 21, 2024
GSA To Invest $80M In Efficiency Tech For Federal Buildings
The General Services Administration plans to spend $80 million bringing new sensors and meters into federal buildings to monitor energy efficiency and air quality, a move the agency says will help it reduce gas emissions.
-
June 21, 2024
Ohio Board Says Zoning Change Doesn't Cut Properties' Value
The Ohio Board of Tax Appeals rejected on Friday arguments from an owner of five parcels that changes to their zoning that occurred within a year of when they were purchased warranted reducing the properties' values below their sales prices.
-
June 20, 2024
Shulman Rogers Boosts Real Estate Team With Fried Frank Atty
Shulman Rogers PA has added a new real estate and commercial leasing shareholder, who has joined the firm from Fried Frank Harris Shriver & Jacobson LLP, the firm announced Thursday.
-
June 18, 2024
Ariz. Tax Court Nixes Valuation Based On Crops Grown
An Arizona county assessor wrongly valued agricultural property based on the crops grown, subjecting the land to enormous valuation increases, the state Tax Court said.
-
June 18, 2024
Burr & Forman Adds Morris Manning Real Estate Atty In Atlanta
Burr & Forman LLP has added a former Morris Manning & Martin LLP commercial real estate attorney to its Atlanta office, strengthening its real estate practice, the firm announced Tuesday.
-
June 18, 2024
Meet The Philly Atty Tapped To Prosecute Public Transit Crime
A litigator with a long history of practicing in the public sector is returning to some familiar surroundings as the Pennsylvania attorney general's pick to prosecute crimes on Philadelphia's transit system.
-
June 18, 2024
Treasury Finalizes Labor Rules For Bonus Energy Tax Credits
The U.S. Treasury Department released final labor rules Tuesday for clean energy projects seeking to significantly boost the value of their tax credits, emphasizing due diligence by developers and announcing that more IRS resources will go toward enforcement of the rules.
-
June 17, 2024
Feds, Tribes Say It's Too Soon To Reopen Monument Suit
The federal government, tribes and conservation groups are fighting a bid by Utah and farming associations to lift a more than three-year stay in a challenge to the Bears Ears National Monument, arguing that the state is already involved in litigation that attempts to nullify the presidential proclamation that established it.
-
June 17, 2024
RI Allows Unrestricted Property Tax Rates In Providence
Rhode Island is authorizing the city of Providence to adopt a classification system that allows unrestricted tax rates for residential, commercial, industrial and tangible personal property under bills that became law without the governor's signature.
-
June 14, 2024
Utah Gov. And Land Trust Beat Tribe's Bidding Suit, For Now
A federal judge dismissed claims against Utah Gov. Spencer Cox, several state officials and its trust lands administration in a tribe's challenge accusing them of spinning a racist bidding scheme to prevent it from winning a land auction to purchase land just outside its reservation.
-
June 14, 2024
Property Plays: Net Lease REIT, Vornado, Citadel
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
-
June 14, 2024
Feds, Tribes Say Mill Owners Liable For 150 Years Of Pollution
The federal government, the state of Washington and a slew of tribes are suing the owners of a shuttered sawmill and a property group that now oversee the sawmill area's development, alleging that for more than a century, hazardous substances from the operation released into Port Gamble Bay and have harmed its natural resources.
Expert Analysis
-
Electricity Market Competition Helps Consumers And Climate
Lawmakers looking to combat climate change and increase consumer choice should encourage and expand competitive electricity supply markets, to free customers from inefficient and often corrupt vertically integrated monopoly utilities, says Todd Snitchler at the Electric Power Supply Association.
-
What Infrastructure Act Means For Transmission Line Projects
The Infrastructure Investment and Jobs Act gives the Federal Energy Regulatory Commission authority to supersede state siting decisions for electric transmission projects, but environmental review requirements make a sudden acceleration of transmission line construction unlikely, say attorneys at Winston & Strawn.
-
DOI's Vision For Offshore Wind: Obstacles And Opportunities
The U.S. Department of Interior's recent announcement of its intent to open the U.S. coastline to large-scale offshore wind projects is promising, but wind developers must be ready to confront distinct technical and regulatory challenges in each coastal region, say attorneys at Holland & Knight.
-
Jones Act Compliance Strategies For Offshore Wind Projects
Offshore wind developers can use a number of strategies to get projects done while meeting the challenges of complying with Jones Act requirements for the use of vessels built, owned and operated by U.S. persons, say Jonathan Wilconis and Carl Valenstein at Morgan Lewis.
-
Biden's Infrastructure Funding Comes With Strings Attached
The bipartisan infrastructure funding bill enacted last November creates new jobs and business opportunities, but its changes to domestic preferences and Made in America enforcement also give rise to new compliance hazards for unwary manufacturers and government contractors, say Jeffrey Belkin and Grecia Rivas at Alston & Bird.
-
NIMBYism Is Endangering America's Clean Energy Future
The U.S. has made remarkable strides in recent years toward a cleaner, more sustainable energy future — but further progress is threatened by a not-in-my-backyard cancel culture that seeks to thwart every type of major energy development, says Albert Wynn at Greenberg Traurig.
-
Science-Based Definition Of US Waters Won't Pass In Court
The U.S. Environmental Protection Agency and the U.S. Army Corps of Engineers recently proposed a science-backed definition of "waters of the United States" for the Clean Water Act, but the U.S. Supreme Court is unlikely to be persuaded that science trumps a constitutional or statutory limit on the EPA's and the Corps' authority, says Jeffrey Porter at Mintz Levin.
-
What Justices' Groundwater Ruling Means For State Disputes
The U.S. Supreme Court's recent decision in Mississippi v. Tennessee aids future negotiations over interstate groundwater resources, both by explicitly informing states what the default rule is, and by implicitly giving states authority to trade off water rights across a broader spectrum of water resources, says Robin Craig at USC Gould School of Law.
-
BGC-Cantor Suit Highlights Independent Directorship Issue
The Delaware Chancery Court recently sent breach of fiduciary duties claims to trial in the disputed merger between BGC and a unit of Cantor Fitzgerald, highlighting both the legal benefits of seeking out directors that meet the court's criteria of independence from the controller, and the significant, negative impacts when they are not, say attorneys at Fried Frank.
-
How Dealmakers Can Bridge M&A Differences In US, Europe
As business continues to heat up globally, differing practices and norms in mergers and acquisitions can lead to misunderstandings between U.S. and European dealmakers, but a comparison of documentation structures and processes can help avert these complications, say Piotr Korzynski and Piotr Jaskiewicz at Baker McKenzie.
-
Feds May Need Power To Take State Lands For New Grid
The Biden administration's plan to move the U.S. electricity sector to renewable energy will require extensive new high-voltage transmission infrastructure, but since states have the ability to block construction of power lines, Congress will need to give federal regulators eminent domain authority over state-owned lands to get the job done, say attorneys at V&E.
-
How Canceling The Border Wall Affects Gov't Contractors
President Joe Biden's cancellation of the border wall project has left some federal contractors in the lurch, but including protective flow-down termination clauses in their contracts can guard against subcontractor liability and ensure recovery, says Adrien Pickard at Shapiro Lifschitz.
-
Biden Climate Push Means Fossil Fuel Cos. Must Innovate
The Biden administration's strong focus on climate change puts unprecedented pressure on oil, gas and coal companies to strategically embrace new clean and low-emission technologies, predict and minimize environmental impacts, and prioritize innovation in order to sustain long-term viability, say attorneys at Akin Gump.