Gravel2Gavel Construction & Real Estate Law Blog
The Act represents the third legislative attempt to address the economic effects of the COVID-19 pandemic. In “CARES Act Provides Tax Deferral and Refund Opportunities,” colleagues Brian M. Blum and Harsha Reddy address that many of these provisions provide taxpayers with liquidity benefits by providing cash payments, pushing back tax payment dates and reducing current and prior year tax liabilities.
Articles Tagged with real estate
Government Contractors Impacted by COVID-19 Orders
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An increasing number of States—now numbering 23, as well as the District of Columbia and many counties and cities, are now subject to Executive Orders restricting activity of non-essential businesses. In “Numerous Jurisdictions Have Now Issued COVID-19 Orders Impacting Government Contractors,” colleagues John E. Jensen, Alex D. Tomaszczuk, Marques O. Peterson and Robert Starling discuss how the Varied Executive Orders, in increasing numbers, have closed nonessential businesses and services across the country, with a variety of implications for government contractors.
Force Majeure, Construction Delays, Labor Shortages and COVID-19
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The global effect of the Coronavirus disease (COVID-19) is still unknown, and the progress of many large-scale construction projects has been affected by “Shelter in Place” orders, although some states and localities have classified construction projects as “essential.” Just last Friday, New York shut down all construction, with few exceptions.
Nonessential Businesses Closures in Maryland Due to COVID-19
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Maryland Governor mandates the closure of all nonessential businesses to combat COVID-19 stopping short of implementing a “shelter-in-place” order. Willful violation of the order can result in both imprisonment of up to one year and a fine of up to $5,000. In “Maryland Extends COVID-19 Closures to Nonessential Businesses,” colleague Brian E. Finch notes that while businesses must be closed to the general public, staff access is permitted for purposes specified in interpretive guidance No. COVID19-06 (i.e., maintaining essential property).
New Jersey’s Uniform Coronavirus Response
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In New Jersey, local mandates and regulations regarding COVID-19 are prohibited by New Jersey Executive Order No. 108. This represents a significant diversion from other states badly hit by COVID-19, including New York and California. In “New Jersey State and Local COVID-19 Orders,” colleagues Brian E. Finch, Margaret Beale-Wirsing and Michelle A. Herrera address that companies doing business in New Jersey should reference the State’s uniform response to COVID-19 and be aware that the uniform response may have a disparate impact on different geographical regions.
Wyoming Governor Signs Law Allowing Retiring Fossil Plants to Be Replaced with Small Modular Nuclear Reactors
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On March 13, 2020, Wyoming Governor Mark Gordon signed House Bill 74 (HB 74) into law. After the Governor signed HB 74, it became House Enrolled Act 60. HEA 60 allows utilities and other power plant owners to replace retiring coal and natural gas electric generation plants with small modular nuclear reactors (SMRs).
No Sales or Use Tax Due on Materials and Equipment Used to Construct and Install Steam Facility at Tennessee Manufacturing Plant
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In a letter ruling published March 16, 2020, the Tennessee Department of Revenue concluded that a contractor’s purchase of materials and equipment for use in the construction and installation of a new steam production facility at a federally owned manufacturing plant was exempt from Tennessee sales and use tax. Tenn. Letter Rul. No. 20-02 (issued Feb. 10, 2020).
COVID-19 and Public Companies: Q&A
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The SEC has provided conditional regulatory relief regarding filing deadlines and has issued guidance regarding annual meetings to assist public companies impacted by COVID-19. In “COVID-19: Q&A for Public Companies,” colleagues Davina K. Kaile, Gabriella A. Lombardi, Christina F. Pearson and Stanton D. Wong addresses some of the most frequently asked questions of public companies on how to navigate the challenges posed by COVID-19.
COVID-19’s Effects on California Executive Power and Industrial Facilities
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California Governor Gavin Newsom has declared a state of emergency and, pursuant to his broad authority under the California Emergency Services Act and other statutory provisions, has issued Executive Orders suspending or modifying the effect of certain state statutes and regulation in response to COVID-19, and authorizing the commandeering of property needed for the response. In “California Executive Power and Industrial Facilities in the Wake of COVID-19,” colleagues Michael S. McDonough and Christopher W. Smith provide an overview of the recent updates and rulings on California’s facilities and operations.
A Four Point COVID-19 Insurance Checklist
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Pillsbury colleague David F. Klein outlines four key points to keep in mind when reviewing various insurance policies during the coronavirus pandemic in the alert, “COVID-19 Insurance Checklist.”