More Real Estate Coverage

Expert Analysis

• Sackett Ruling, 'Waters' Rule Fix Won't Dry Up Wetlands Suits

  

  In the wake of the U.S. Supreme Court's recent ruling in Sackett v. U.S. Environmental Protection Agency narrowing the scope of Clean Water Act protections, the Biden administration is amending its rule defining "waters of the United States" — but the revised rule will inevitably face further court challenges, continuing the WOTUS legal saga indefinitely, say attorneys at Milbank.

• The Supreme Court Is At War With Itself On Extraterritoriality

  

  The U.S. Supreme Court recently issued two conflicting pronouncements about the presumption against extraterritoriality without acknowledging the tensions between these decisions, which leaves lower courts, practitioners and potential defendants in the dark, says Jonah Knobler at Patterson Belknap.

• C-PACE Laws Offer Boost For Sustainable Development

  

  As more emphasis is placed on energy-efficient infrastructure and sustainability projects, state laws establishing property assessed clean energy financing — known as C-PACE in the commercial context — have become increasingly relevant to project developers' capital stacks, say attorneys at Frost Brown.

• RICO Ruling Makes US More Attractive Foreign Creditor Forum

  

  The U.S. Supreme Court's decision in Yegiazaryan v. Smagin, allowing a foreign plaintiff to use the Racketeer Influenced and Corrupt Organizations Act to enforce a foreign arbitral award, will make judgment creditors more likely to seek out U.S. courts to remedy efforts to frustrate the enforcement of international arbitration awards, say attorneys at Paul Hastings.

• IRS Guidance Powers Up Energy Tax Credit Transfers

  

  Recent IRS guidance on the monetization of energy tax credits provides sufficient clarity for parties to start negotiating transfer agreements, but it is unclear when the registration process required for credits to change hands will be up and running, say attorneys at Shearman.

• LA's High-Value Real Estate Transfer Tax Should Be Scrapped

  

  Los Angeles’ recently implemented high-value property transfer tax has chilled the real estate market, is failing to meet revenue expectations and raises significant constitutional concerns, making it a flawed piece of legislation that should be invalidated, says attorney Paul Weinberg.

• Sackett's US Waters Redefinition Is A Boon For Developers

  

  The U.S. Supreme Court's recent landmark ruling in Sackett v. U.S. Environmental Protection Agency should reduce real estate project delays, development costs and potential legal exposures — but developers must remain mindful of how new federal and state regulations governing wetlands could affect their plans, say attorneys at Morris Manning.

• SEC Form PF Amendments Show Private Fund Adviser Focus

  

  The U.S. Securities and Exchange Commission recently adopted amendments to Form PF that will establish new event-reporting requirements for private equity and large hedge fund advisers, reflecting the SEC's increased attention on the private markets also seen in its stated examination priorities and latest rule proposals, say attorneys at King & Spalding.

• What Tax-Exempt Orgs. Need From Energy Credit Guidance

  

  Guidance clarifying the Inflation Reduction Act’s credit regime, expected from the U.S. Department of the Treasury this summer, should help tax-exempt organizations determine the benefits of clean energy projects and integrate alternative energy investments into their activities, say attorneys at Morgan Lewis.

• As Sackett Trims Feds' Wetlands Role, States May Step Up

  

  The U.S. Supreme Court's recent decision in Sackett v. U.S. Environmental Protection Agency extinguishes federal authority over many currently regulated wetlands — meaning that federal permits will no longer be required to discharge pollutants in affected areas, but also that state regulators may take a more active role, say attorneys at Kelley Drye.

• How Fla. Tort Reform Will Shift Construction Defect Suits

  

  Recent modifications to Florida's private statutory action rules for building code violations and to the statute of limitations and repose for defect claims significantly clarify ambiguity that had existed under previous rules, and both claimants and defendants should consider new legal arguments that may become possible, say Ryan Soohoo and George Truitt at Cole Scott.

• The Nuts And Bolts Of IRS Domestic Content Tax Credit

  

  Recent IRS guidance provides specifics on how renewable energy projects can qualify for bonus tax credits by meeting U.S. domestic content rules, but also creates a qualification framework that will be complicated for project developers to navigate, say Scott Cockerham and Wolfram Pohl at Orrick.

• Biden's Enviro Justice Focus Brings New Business Risks

  

  A recent executive order from President Joe Biden continues the administration's whole-of-government approach toward environmental justice, and its focus on transparency may increase the risk of permit challenges, enforcement actions and citizen suits, say attorneys at King & Spalding.