Law and legal issues

A New Jersey tax court ruling stating that one of its nonprofit hospitals is not exempt from property tax payments from 2006 to 2008 is unlikely to have implications in other states, according to Fitch Ratings.

Chicago's top lawyer and attorneys for unions and pension fund members laid out their arguments before the court Thursday.

A battle between Fresno Unified School District and a developer playing out in California courts could be costly for the state's school districts.

The House Judiciary Committee is unlikely to pass legislation that would give Puerto Rican public municipalities and utilities the ability to file for bankruptcy under Chapter 9, committee chair Bob Goodlatte, R-Va., said in a Wednesday statement.

Months after the original private owner of the publicly owned toll road went bankrupt, the new owner, Australian fund manager fund IFM Investors, is set to complete the financing of its takeover bid next week.

Chicago and unions challenging its overhaul of the municipal and laborers’ pension funds square off in court Thursday with the city’s efforts to stabilize its rocky fiscal foundation at stake.

Conditions in Jefferson County, Ala. are improving after its bankruptcy exit and the county is preparing for its first municipal bond market appearance since its 2013 exit from bankruptcy, said County Commission President Jimmie Stephens.

Illinois Comptroller Leslie Geissler Munger plans an appeal of a court decision barring her from meeting the full state payroll without a fiscal 2016 in place, a decision that ups pressure on state leaders to resolve a budget impasse.

A Pittsburgh grand jury looking into Harrisburg's finances has received a six-month extension to Jan. 31.

A recent New Jersey Tax Court ruling that most of the Morristown Medical Center campus did not qualify for a local property tax exemption from 2006 to 2008 is a credit negative for the state's non-profit hospitals, according to Moody's Investors Service.

Illinois Attorney General Lisa Madigan and Comptroller Leslie Geissler Munger want the state courts to provide more clarity on what can be paid without a fiscal 2016 budget in place, including whether the state can meet its payroll.

The Georgia Supreme Court Monday ruled that $368 million of bonds to finance the Atlanta Braves' $672 million baseball stadium were properly validated by a lower court.

The Supreme Court has declined to hear the case of ex-Miami, Fla. budget director Michael Boudreaux, sending the former official and the city back to court to fight a Securities and Exchange Commission lawsuit in a move some lawyers fear could hurt municipal officials' abilities to do their jobs.

The New Jersey State Legislature has approved a package of bills aimed at stabilizing Atlantic City's finances.

A legal battle over use of a gate at Love Field will delay $110 million of revenue bonds for an urgently needed parking garage at the Dallas airport.

A federal judge in Alabama has ordered mediation in the Securities and Exchange Commission’s pay-to-play suit against two ex-JPMorgan bankers involved in Jefferson County sewer deals.

The Supreme Court's Thursday ruling that upheld the legality of federal subsidies under the Affordable Care Act is a win for the hospital sector that provides some stability through the remainder of the Obama presidency, analysts said.

Puerto Rico Gov. Alejandro García Padilla’s administration is pressing for Congress to stop focusing on the question of Puerto Rico’s statehood and instead shift its energy to giving the island territory access to Chapter 9 bankruptcy powers that exist in the states.

The federal government extended All Aboard Florida’s $1.75 billion private activity bond allocation, relieving pressure on the private train owner to issue the bonds as legal challenges proceed.

A Virginia judge approved a mediated deal June 22 that will keep Virginia's Briar College open for another year and release endowment funds.