Mr. Caprera is a senior section 103 tax lawyer in Kutak Rock LLP's Denver office. He has more than 30 years' experience in tax-exempt bond financing and has had primary responsibility for delivering tax opinions in such areas as student loan issues, highway finance, educational facility financings, housing, and industrial development financings and refundings, as well as traditional government financings. Mr. Caprera is the past chair of the American Bar Association Tax Section's Tax-Exempt Financing Committee, past chair of its task force on the Treasury Regulations implementing the arbitrage rebate provisions of the Tax Reform Act of 1986, and past chair of its Subcommittee on Arbitrage Matters. He also has served on the Board of Directors of the National Association of Bond Lawyers.
• Representing student loan bond issuers as lead tax counsel for more than a dozen state authorities.
• Counsel to a variety of state and regional highway authorities in financing both public and toll roads through the issuance of bonds totaling in excess of $5B.
• Representing both bond issuers and investment banking firms in examinations before the Internal Revenue Service.
• Preparing Internal Revenue Service ruling requests on topics including naming rights, financing interests in real property, synthetic variable rate refundings, creating on behalf of issuers, private activity bonds, and replacement proceeds.
• Representing taxing authorities in the acquisition, zoning, financing and development of residential and commercial property.
• Advising funds as investors in tax-exempt bonds regarding tax risk and opportunities available through restructurings and workouts.
November 2, 2012 Caprera Wins Service Award
The National Association of Bond Lawyers (NABL) recently awarded the Frederick O. Kiel Distinguished Service Award to David Caprera, senior tax attorney at Kutak Rock LLP.
November 10, 2010 Bond College Appoints Kutak Rock Attorneys
September 20, 2013 IRS Releases Proposed Arbitrage Regulations
On September 16, 2013, the IRS published proposed regulations (the Proposed Regulations) in the Federal Register covering several areas relating to tax-exempt bonds, including the determination of the issue price of such bonds. It is important to note that these Proposed Regulations are, for the most part, not yet in effect. While issuers may elect to apply certain portions of the Proposed Regulations, the general rule is that the Proposed Regulations will impact bonds issued on or after 90 days following the publication of final regulations in the Federal Register. For the time being, we will continue to apply the existing regulations (the Existing Regulations) unless it is advantageous to apply the Proposed Regulations to new transactions.
February 17, 2011 The Status of Certain Bond Tax Provisions Post-ARRA
The purpose of this memorandum is to describe the status of certain tax provisions subsequent to the end of calendar year 2010 that are of interest to the attorneys and clients of Kutak Rock LLP's public finance practice.