Public Finance
The Jackson Walker public finance team has more than 140 years of collective experience in the public finance industry. The team has represented clients in transactions exceeding $200 billion, and our attorneys have worked with practically every type of entity that can borrow funds on a tax-exempt basis or provide tax-exempt financing.
As part of the largest firm in Texas, with deep experience in securities, corporate law, tax, and bankruptcy, our team guides clients through the complexities of state and federal laws and regulations in all phases of planning, issuance, closing, and post-closing.
Jackson Walker attorneys have served as bond counsel, bank counsel, underwriter’s counsel, trustee’s counsel, letter of credit providers counsel, disclosure counsel, and borrowers counsel across a broad range of taxable and tax-exempt transactions. Our attorneys also bring extensive experience with all federal income tax aspects of municipal finance transactions, including refundings and arbitrage and rebate matters, and they have assisted public finance clients involved in IRS audits.
Our team includes attorneys consistently recognized by Best Lawyers and others in the areas of public finance and administrative law, and they have held leadership roles in the American College of Bond Counsel and the National Association of Bond Lawyers.
Clients We Serve
The Jackson Walker team serves traditional governmental entities, nonprofit organizations, and private entities, as well as representing national and regional underwriters, domestic and foreign banks, and other financial institutions.
Our issuer clients include school districts, junior college districts, cities, counties, state agencies, economic development corporations, and special authorities throughout Texas across education, healthcare, and transportation.
Our public finance team has extensive experience with education, infrastructure financings, and economic development, and they have also represented local governments on special projects, including legislative and investment matters. The team also has extensive experience advising clients with respect to the Texas anti-boycott laws and verifications.
Public Finance Tax
Jackson Walker tax attorneys draft tax-related covenants and disclosure, prepare tax documentation and deliver opinions regarding the tax-exempt status of the bonds, notes or other indebtedness. We advise on tax compliance and other issues that arise before, during and after a transaction closes. We advise clients regarding arbitrage and rebate regulations, private business use and other non-qualified use, and post-issuance remedial actions. We draft compliance procedures, and address non-compliance situations. We review management contracts and other agreements to determine if they result in private business use.
Our tax attorneys have successfully represented numerous issuers before the IRS in connection with audits and voluntary settlements under the voluntary closing agreement program. We have unique expertise and experience in IRS audits of tax-exempt bonds, and have played leading roles in achieving favorable resolutions for clients in complex IRS audits of tax-exempt bonds. Our goal is to help issuers and conduit borrowers preserve the tax-exempt status of the tax-exempt bonds in the most efficient way possible.
Jackson Walker’s public finance tax practice is led by Russ Miller. Russ has practiced public finance tax law since 1987, with an emphasis on the federal tax requirements for tax-exempt obligations. In addition to providing tax expertise on Jackson Walker’s public finance transactions, Russ is available to serve as outside or special tax counsel to other law firms, municipal issuers, or conduit borrowers seeking tax advice, opinions, back-up opinions, tax documentation, tax disclosure, and guidance on post-issuance compliance.
- New money and refunding issues
- Defeasance of tax-exempt issues
- Conduit and direct issuer financings
- Rated and unrated issues
- Taxable and tax-exempt issues
- Revenue and general obligation financings
- Lease and loan transactions
- Credit and liquidity enhancement facilities
- Defaulted issues
- Issues with fixed, variable, and convertible interest rate structures
- Legislative and investment matters
- SB 13 and 19 and related issues
November 7, 2024
Spotlight
Jackson Walker Earns 26 National and 140 Metropolitan Rankings in 2025 Edition of “Best Law Firms”
Jackson Walker proudly announces its inclusion in the 2025 edition of Best Law Firms® by Best Lawyers. This year, Jackson Walker observed notable improvements in the national rankings, including the rise of Real Estate to Tier 1, Commercial Litigation, Energy Law, and Trusts and Estates to Tier 2, and the addition of Litigation – Regulatory Enforcement (SEC, Telecom, Energy) in Tier 3.
August 15, 2024
Attorney News
‘The Best Lawyers in America’ Features 306 Jackson Walker Attorneys in 2025 Edition, Including 9 “Lawyers of the Year” and 75 “Ones to Watch”
The Best Lawyers in America has recognized 306 Jackson Walker attorneys across 81 specialty practice areas in its 2025 edition, including 9 Lawyers of the Year and 75 Ones to Watch. In this year’s guide, Jackson Walker saw the largest number of attorneys in the areas of Commercial Litigation (75 attorneys) and Real Estate Law (55 attorneys) and the addition of 27 attorneys as Best Lawyers.
June 6, 2024
Spotlight
Chambers and Partners Releases 2024 USA Guide Featuring 67 Jackson Walker Attorneys and 23 Ranked Departments
Jackson Walker is pleased to announce that Chambers and Partners has selected 67 attorneys and 23 departments for inclusion in the 2024 edition of the Global and USA guides. Attorneys were ranked across 27 departments, with 3 attorneys listed among multiple areas, 8 ranked nationwide in their respective areas, and 15 recognized for the first time.
June 6, 2024
Spotlight
Public Finance Group Ranked in Chambers USA Guide
In its first-ever guide to the top Texas firms for Public Finance, Chambers and Partners ranked Jackson Walker in the 2024 USA Guide. In addition, Public Finance partners Rick Witte, Todd Brewer, Tanya Fischer, and Hoang Vu were ranked among the top Texas attorneys in this area.
June 20, 2023
Attorney News
Jackson Walker Welcomes Public Finance Group With More Than $200 Billion in Experience
Jackson Walker is pleased to announce the arrival of a new Public Finance practice group based in our Houston office. With more than 140 years of collective experience, the group has represented clients in more than $200 billion of public finance transactions.
