Alan L. Kennard

• Counsels and represents investors, lenders, community development entities and borrowers, including more than $1.3 billion of new market transactions, $325 million of historic tax credit transactions and $300 million of low-income housing tax credit transactions (closing one of the first two deals involving the new Tax Credit Assistance Program, "TCAP") and most recently represented a state-wide bond issuer in obtaining a $75 million allocation of new markets tax credits (one of the highest awards ever received by a bond issuer)
  
• Served as bond counsel, special tax counsel, underwriter's counsel and trustee counsel in over $2.5 billion of public and private tax and tax-exempt public finance transactions
  
• Structures and facilitates corporate, partnership and other entity formation, organization, initial and ongoing capital structuring, distributions and redemptions as well as taxable and tax-free dispositions, liquidations, reorganizations, restructurings, divestitures, recapitalizations, joint ventures and leveraged buyouts
  
• Counsels hedge funds, mutual funds, real estate investment trusts, real estate mortgage investment conduits, private equity funds, venture funds and commodity pools, domestic and foreign individuals, public and private companies and tax-exempt entities with respect to various issues including pass-through, allocation, profits interest, vesting and non-vesting, bifurcation, management fees, interest expense, trade or business, carried interest, passive losses, “at risk” rules, mark-to-market rules, swaps/swaptions, straddles, short sales, collateralized debt obligations, original issue discount, conversion, forwards/futures contracts and calls/puts
• Counsels developers, nonprofits, investors, lenders, borrowers in business and real estate transactions
  

Publications And Presentations:

• "Stimulus Targeting Investments In Community Development and Housing," Corporate Taxation , Vol 37, No. 1, January/February 2010.
• Speaker, "Introduction to QLICIs" and "Low Income Communities," Novogradac New Markets Tax Credits Investors Conference, Chicago, October 2009.
• "Tax Credit for Proposed Real Estate Projects," Real Estate Taxation, Vol.36, No.3, 2nd Quarter 2009.
• "American Recovery and Reinvestment Act of 2009 Provides New Business Tax Incentives," Corporate Business Taxation Monthly, Vol. 10, No. 7, April 2009.
• "NMTCs: An Opportunity In A Bad Economy," Law 360, April 1, 2009.
• “Bond Issuers Should Apply for New Markets Tax Credits, ” The Bond Buyer, February 2009.
• Speaker, “Investment Tools: Tax Credits and Innovation Finance, ” Texas Economic Development Council Fundamentals of Economic Development Finance Seminar, Austin, Texas, April 3, 2009.
• “Historic Tax Credit: An Opportunity for Corporate Investors,” Corporate Taxation, Vol. 32, No. 4, July/August 2005.
• “Nonqualified Deferred Compensation Plans Under New Code Section 409A,” Corporation Business Taxation Monthly, Vol. 6, No. 6, March 2005.
• “Charities and Politics: Permitted, Restricted and Prohibited Activities,” The Exempt Organization Tax Review, Vol. 46, No.2, November 2004.
• “New Markets Tax Credit: A New Investment Opportunity,” Journal of Taxation of Investments, Vol. 22, No. 1, Autumn 2004.
• “Split-Dollar Life Insurance: Analysis Under the Equity and the Loan Regimes,” Tax Management Compensation Planning Journal, Vol. 32, No. 9, September 2004.
• “Golden Parachute Payments to Disqualified Individuals,” Corporation Business Taxation Monthly, Vol. 5, No. 12, September 2004.
• “Golden Parachute Payments: ‘In the Nature of Compensation,’” Corporate Business Taxation Monthly, Vol. 5, No. 11, August 2004.
• “Final Corporate Tax Shelter Regulations: Corporations Take Note,” Corporate Taxation, October/November, 2003.
• “Unresolved Corporate Tax Shelter Issues,” Corporate Business Taxation Monthly, Vol. 4, No. 13, September 2003.
• “Constructive Sales and Gains from Constructive Ownership Transactions: An Overview,” Journal of Taxation and Regulation of Financial Institutions, Vol. 17, No. 2, November/December 2003.
• “Avoidance of Termination of a Partnership,” Tax Notes’ Special Report, Vol. 100, No. 11, September 15, 2003.
• “Section 501(j): Qualified Amateur Sports Organizations and Related Issues,” The Exempt Organization Tax Review, Vol. 41, No. 3, September 2003.
• “Unresolved Corporate Tax Issues,” Corporate Business Taxation Monthly, Vol. 4, No. 12, September 2003.
• “The Hedge Fund Verses the Mutual Fund,” The Tax Lawyer, Vol. 57, No. 1, Fall 2003.
• “Statutory Options: The New Proposed Regulations,” Tax Management Compensation Planning Journal, Vol. 39, No. 9, September 5, 2003.
• “Understanding The Jobs and Growth Tax Relief Reconciliation Act of 2003,” Corporate Business Taxation Monthly, Vol. 4, No. 11, August 2003.
• “The 2003 Final Tax Shelter Regulations,” Corporate Business Taxation Monthly, Vol. 4, No. 9, June 2003.
• “The Hedge Fund: Assessing the Risks” The Corporate Lawyer, Vol. 40, No. 10 and No. 11, April and May 2003.
• “Current Deduction for Contested Liabilities,” Mergers and Acquisitions, Vol. 3, No. 7, November 2002.
• “Characterization of Business Hedging Transactions,” Mergers and Acquisitions, Vol. 3, No. 3, July 2002.
• “The Limited Liability Company Verses the ‘S’ Corporation,” Corporate Business Taxation Monthly, Vol. 3, No. 9, June 2002.
• “Corporate Tax Shelters: Recent Court Decisions and IRS Guidance,” Mergers and Acquisitions, Vol. 3, No. 2, June 2002.
• “Annual Report: Financial Transactions,” The Tax Lawyer, Vol. 47, No. 4, Summer 2004, Vol. 56, No. 4, Summer 2003; Vol. 55, No. 4, Summer 2002; Vol. 54, No. 4, Summer 2001; Vol. 53, No. 4, Summer 2000 and Vol. 52, No. 4, Summer 1999.
• “Using Financial Asset Securitization Investment Trusts,” Corporate Business Taxation Monthly, Vol. 2, No. 12, September 2001.
• “Asset-Backed Securitizations,” Corporate Business Taxation Monthly, Vol. 2, No. 11, August 2001.
• “Tax Issues Relating to Futures and Forward Contracts,” Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings, Practicing Law Institute, Vol. 11, 2004, 2003, 2002, 2001, 2000.
• “IRS Enforcement Imperils Tax-Exempt Bonds (Parts I and II),” Corporate Business Taxation Monthly, Vol. 1, No. 2 and Nov 3, November 1999 and December 1999.
• "Principles of Financial Derivatives: U.S. and International Taxation," Warren Gorham & Lamont/RIA Group, 1999.
• "Swaps, GICs and Other Investment Vehicles," National Association of Bond Lawyers,” 2003, 2002, 2001, 2000 and 1999.
• “Final Regulations: Tax-Exempt Private Activity Bonds – Strict New Rules for Municipal Finance,” Journal of Taxation, Vol. 86, p. 354, July 1997.
• “Final Mark-to-Market Regulations Much Improved But Create Problems for Non-Consolidated Affiliates,” Tax Management Memorandum, Vol. 38, No. 4, February 17, 1997.
• “Final Debt Modification Regulations Still Quick on the Trigger,” Tax Management Memorandum, Vol. 37, p. S-229, August 19, 1996.
• “FASITs: New Tax Rules for Asset Securitization,” Tax Management Memorandum, Vol. 37, No. 26, 1996.