Tony focuses his practice on municipal finance-related federal tax law, with an emphasis on tax-exempt governmental facilities financings, qualified 501(c)(3), exempt facility and qualified small issue and other private activity bond financings, tax revenue anticipation and other working capital financings, advance refunding structures, interest rate swap and other municipal finance-related derivative products, defense of IRS bond examinations and taxable bond and tax credit bond financings for state and local governments and other eligible borrowers.
Tony also has experience in general federal corporate taxation and tax dispute work. He is a regular speaker and panelist on federal tax law issues at the National Association of Bond Lawyers’ tax seminars and Bond Attorneys’ Workshops, and served from 2002 to 2003 as Editor-in-Chief of NABL’s treatise, Federal Taxation of Municipal Bonds. In addition, he served as Chair of NABL’s 2008 Tax and Securities Law Institute and served on NABL’s Board of Directors from 2009 to 2016. Tony was the President of NABL from 2014 to 2015. He is also a Fellow of the American College of Bond Counsel.
Experience
Representative Transactions
- Bond Counsel to the Vermont Economic Development Authority
- Underwriters Counsel and Remarketing Agent Counsel to Bank of America Merrill Lynch for various corporate tax-exempt financing programs
- Served as Bond Counsel for $496 Million Bond Issue to Benefit Partners Healthcare System
- Served as Bond Counsel to Northeastern University in connection with $250 Million Bond Issue to Finance New Science and Engineering Facility
- Trustees of Boston College 501(c)(3) Revenue Bonds
- State of Vermont Special Obligation Transportation Infrastructure Bonds
- Southcoast Health System 501(c)(3) Revenue Bonds
- Bowdoin College Century Bonds
Credentials
Work Experience
- Hinckley Allen
- Chair, Public Finance
- Partner (2015-Present)
- Locke Lord LLP
- Partner (2015-2015)
- Edwards Wildman Palmer LLP/Palmer & Dodge, LLP (Merged into Locke Lord)
- Partner (2001-2015)
- Associate (1998-2000)
- Orrick Herrington & Sutcliffe LLP
- Associate (1992-1998)
- Hon. Jerome Farris, 9th Circuit U.S. Court of Appeals
- Clerk (1991-1992)
Honors & Awards
- Best Lawyers in America® (2017-2022) Recognized for Tax Law
- Chambers USA America's Leading Lawyers for the category of Banking & Finance: Public Finance
- Super Lawyers® Bonds & Government Finance, Massachusetts
Professional Affiliations
- American College of Bond Counsel, Fellow
- Boston Bar Association, Member
- National Association of Bond Lawyers, President (2014-2015)
Bar Memberships
- California, 1991
- Massachusetts, 1999
- United States Court of Appeals, Ninth Circuit, 1992
- United States District Court, Northern District of California, 1992
- United States Tax Court, 1993
News & Insight
Revenue Procedure 2022-20: IRS Permanently Authorizes Toll-Free Teleconference TEFRA Hearings
March 29, 2022On March 18, 2022, the IRS released Revenue Procedure 2022-20, making permanent the ability to conduct TEFRA hearings “virtually” for purposes of Code Section 147(f)(2)(B)(i), by means of toll-free telephonic access to the hearing for members of the pu…
IRS Releases Final Regulatory Guidance on the LIBOR “Sunset”
March 21, 2022On December 30, 2021, the Treasury Department and the Internal Revenue Service released Treasury Decision 9961 (REG-118784-18) promulgating final regulations related to the ongoing transition in the financial markets away from interbank-offered reference r…
Infrastructure Investment and Jobs Act Becomes Law, Establishes New Tax-Exempt Bond Categories for Broadband and Carbon Capture Facilities
November 15, 2021On November 8, 2021, H.R. 3684, the “Infrastructure Investment and Jobs Act” was passed by Congress, and on November 15, 2021, President Biden signed it into law. Enacted with bipartisan support, this “hard infrastructure” legislative package autho…
SEC Releases Order Granting a Temporary Exemption for Municipal Advisors Soliciting Banks to Place Bonds
June 18, 2020On June 16, 2020, the Securities and Exchange Commission issued an Exemptive Order in Release 34-89074 to temporarily permit registered municipal advisors (MAs) to solicit banks and other financial institutions in connection with the direct placement of ce…
IRS Blesses “Dial-In” TEFRA Hearings and Enhances Bond Self-Purchase Guidance in Response to COVID-19 Emergency
May 6, 2020On May 4, 2020, the Treasury Department and the Internal Revenue Service released two guidance pieces designed to address issues currently challenging the public finance markets as a result of the COVID-19 pandemic. The first release, Revenue Procedure 2…
IRS Releases Proposed Regulatory Guidance on the LIBOR “Sunset”
October 21, 2019Recently, the Treasury Department and the Internal Revenue Service released proposed regulations (REG-118784-18) offering guidance related to the anticipated transition in the financial markets away from interbank-offered reference rates (IBORs) such as th…
IRS Releases Final Public Hearing and Approval Regulations for Tax-Exempt Bonds
January 14, 2019On December 31, 2018, the U. S. Department of the Treasury and the Internal Revenue Service (IRS) released Treasury Decision 9845, which sets forth final regulations on the public hearing and approval requirements that are prescribed for tax-exempt private…
September 2018 update on FY 2019 federal budget sequestration affecting build America bonds and other direct pay subsidy bonds
September 6, 2018Earlier this summer, the Internal Revenue Service announced that the percentage reduction, or budgetary sequestration rate, that will be applied to interest subsidy payments on so-called “direct-pay” bonds for fiscal year 2019 (which begins on October …
SEC Rule 15c2-12 Amendments Require Disclosure of Additional Events
August 28, 2018On August 15, 2018, the Securities and Exchange Commission (SEC) finalized and adopted amendments to Rule 15c2-12 of the Securities Exchange Act of 1934 (Rule 15c2-12), which proscribes certain notice requirements pertaining to obligations of state and loc…
Tax Cuts and Jobs Act Becomes Law, Terminates Tax-Exempt Advance Refunding Bonds
December 26, 2017On December 22, 2017, H.R. 1, the “Tax Cuts and Jobs Act”, was signed into law. Addressing a wide range of tax policy and revenue matters, starting with a 40% reduction in the corporate income tax rate and significant adjustments to the tax brackets fo…
Senate-Approved Version of Tax Cuts and Jobs Act Would Terminate Tax-Exempt Advance Refunding Bonds
December 4, 2017On December 2, 2017, the United States Senate approved its version of the bill entitled the “Tax Cuts and Jobs Act”. Although the Senate bill is aligned with the version of the Act approved by the House of Representatives on November 16, 2017 with re…
Senate Version of Tax Bill Would Terminate Tax-Exempt Advance Refunding Bonds, Preserve Private Activity Bonds
November 10, 2017On November 9, 2017, the Congressional Joint Committee on Taxation released a detailed report on the provisions in the Senate version of the bill entitled the “Tax Cuts and Jobs Act”. The Senate bill, like the House version of the bill released on No…
House Tax Bill Would Terminate Tax-Exempt Private Activity Bonds and Advance Refunding Bonds
November 6, 2017On November 2, 2017, Republicans in the House of Representatives released a bill entitled the “Tax Cuts and Jobs Act” that would make the most thoroughgoing revisions to the federal tax laws in more than a generation. At the top level, this bill woul…
August 2017 update on FY 2018 federal budget sequestration affecting build America bonds and other direct pay subsidy bonds
August 8, 2017Under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2025. On August 2, 2017, the Internal Revenue Service released a statement noting that the percentage reduction that will be applied to…
IRS Releases Final Issue Price Regulations for Tax-Exempt Bonds
December 14, 2016On December 8, 2016, the Treasury Department and the Internal Revenue Service released Treasury Decision 9801, which sets forth final regulations providing a revamped definition of the “issue price” of tax-exempt bonds under the arbitrage bond rules of…
IRS Releases New Management Contract Safe Harbor Guidance for Tax-Exempt Bond Financed Facilities
August 23, 2016On August 22, 2016, the Internal Revenue Service released Revenue Procedure 2016-44 (“RP 2016-44”), which lays out a new and significantly liberalized safe harbor model for management contracts affecting facilities that are financed with tax-exempt bon…
Treasury and IRS Release Arbitrage Bond Regulations
July 22, 2016On July 18, 2016, the United States Department of the Treasury and the Internal Revenue Service published a package of regulations revising and updating the “arbitrage bond” rules of Section 148 of the Internal Revenue Code. With certain exceptions, Se…
February 2016 Update on Federal Budget Sequestration that Affects Build America Bonds and Other Direct Pay Subsidy Bonds
February 17, 2016Under current law, direct pay bond subsidy payments are subject to federal budgetary sequestration through fiscal year 2025. On February 9, 2016, the Office of Management and Budget released the nondefense mandatory sequester percentage for fiscal year…
Treasury Releases Final Allocation and Accounting Regulations
December 2, 2015In late October 2015, the United States Department of the Treasury released comprehensive final regulations governing allocations and accounting under the “private activity bond” rules of Section 141 of the Internal Revenue Code. Section 141 of the Cod…
NABL President Martini Joins Hinckley Allen
May 1, 2015Tony Martini Comments on the IRS Memo on Build America Bonds
December 29, 2014Tony Martini and the NABL Provide Tax Guidance for 2015
December 29, 2014Tony Martini Weighs In on the Ratepayer Appeal in Jefferson County's Chapter 9 Bankruptcy Plan
December 29, 2014Tony Martini Elected as a Fellow at the American College of Bond Counsel
August 25, 201458 Hinckley Allen Attorneys Recognized by Best Lawyers® in America 2022
August 19, 2021Hinckley Allen is pleased to announce that 58 attorneys are recognized in the 2022 edition of The Best Lawyers in America®, including 8 “Lawyers of the Year.” Best Lawyers® has also recognized 15 Hinckley Allen attorneys in their inaugural "Ones to W…
59 Hinckley Allen Attorneys Recognized by Best Lawyers in America 2021
August 20, 2020Hinckley Allen is pleased to announce that Best Lawyers® has recognized 59 attorneys in the 2021 edition of The Best Lawyers in America®, including 12 “Lawyers of the Year.” Best Lawyers® has also recognized 10 Hinckley Allen attorneys in their inau…
56 Hinckley Allen Attorneys Recognized by Best Lawyers in America 2020
August 15, 2019Only one lawyer in each specialty in each region is honored as a “Lawyer of the Year” by Best Lawyers®. Since its first publication in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. Best Lawyers compi…
Chambers USA 2019 Ranks Hinckley Allen Attorneys and Practices
April 25, 2019Hinckley Allen is proud to announce that the 2019 edition of Chambers USA has recognized several of the firm’s practice areas and attorneys for their outstanding work.Chambers USA rankings are based on extensive in-depth interviews with attorneys and cli…
51 Hinckley Allen Attorneys Recognized by Best Lawyers in America 2019
August 15, 2018Hinckley Allen is pleased to announce that Best Lawyers® has recognized 51 attorneys in the 2019 edition of The Best Lawyers in America®, including seven “Lawyers of the Year.” Only one lawyer in each specialty in each region is honored as a “La…
Chambers USA 2018 Ranks Hinckley Allen Attorneys and Practices
May 3, 2018Hinckley Allen is proud to announce that the 2018 edition of Chambers USA has recognized several of the firm’s practice areas and attorneys for their outstanding work.Chambers USA rankings are based on extensive in-depth interviews with attorneys and cli…
52 Hinckley Allen Attorneys Recognized by Best Lawyers of America
August 18, 2017Noble F.Jomarie T.Robert J.James J.Leon C.John J.William W.Christine K.
Hinckley Allen Expands Public Finance Practice with New Partners, Antonio Martini and Kris Moussette
May 7, 2015Two prominent local attorneys, Antonio Martini and Kris Moussette, have joined Hinckley Allen’s Boston office as partners in the firm’s growing Public Finance practice. Both attorneys are joining Hinckley Allen from Locke Lord LLP in Boston.“Tony and…
Events
EVENT: Massachusetts Collectors & Treasurers Association Annual Spring Meeting
April 6, 2022In partnership with the Massachusetts Collectors & Treasurers Association (MCTA), Public Finance Chair Tony Martini will speak about the threats on the tax-exempt status of municipal bonds.The Massachusetts Collectors & Treasurers Association (MCTA…
National Association of Bond Lawyers - 2019 Bond Attorney's Workshop
September 11, 2019Antonio D.
New Management Contract Rules and How They May Affect Your Organization
November 8, 2018Antonio D. Martini will discuss "New Management Contracts and How They May Affect Your Organization" at the Connecticut Health and Educational Facilities Authority Client Conference (CHEFA). In this discussion, CHEFA clients will learn what is allowed, and…
Refundings and Reissuance
February 21, 2018View information for next year’s event, as well as photos from this year’s event here.The National Association of Bond Lawyers (NABL) was established in 1979 to promote the integrity of the municipal market through the education of its members in the …
Capstone Session on Strategic Debt Planning
December 6, 2017Hinckley Allen Partner Antonio Martini will be speak at the Treasury Institute for Higher Education's 2017 Tax Exempt Bond Compliance Conference. This year's conference aims to provide higher education professionals, supporters, and speakers with an inte…
Tax Hot Topics for Issuer's Counsel
October 6, 2017Hinckley Allen Partner Antonio Martini spoke at the National Association of Bond Lawyer's (NABL) Bond Attorney's Workshop about "Tax Hot Topics for Issuer's Counsel."The National Association of Bond Lawyers (NABL) was established in 1979 to promote the int…
Colloquium on the New Issue Price Regulations
October 4, 2017Hinckley Allen Partner Antonio Martini spoke on a panel at the American College of Bond Counsel's (ACBC) "Colloquium on the New Issue Price Regulations."The American College of Bond Counsel was formed in 1995 for the purpose of recognizing lawyers who have…
To Fund or Not to Fund
December 4, 2015Hinckley Allen Partner Antonio Martini spoke at the Treasury Institute for Higher Education's 2015 Tax Exempt Bond Compliance Conference. The conference aims to provide higher education professionals, supporters, and speakers with an interactive learni…
MCDC: Lessons Learned
December 1, 2015Hinckley Allen Partner Antonio Martini spoke at the Annual Meeting of Municipal Advisors on a panel discussing "MCDC: Lessons Learned."
Do Municipal Bond Markups Reflect Accounting Quality?
August 1, 2015Hinckley Allen Partner Antonio Martini spoke at Brandeis University's 4th Annual Municipal Finance Conference, discussing the research paper by Professor Angela K. Gore from George Washington University "Do Municipal Bond Markups Reflect Accounting Quality…
Speaking Engagements
National Association of Bond Buyers (NABL), 2019 Bond Attorney’s Workshop, Chicago, IL, September 11-13, 2019
- Tax Concepts in Bank Direct Purchase and Bank Qualification
- Ethics: Risk – The Game of Reduction of Professional Exposure, Loss Prevention and Bond Counsel Liability
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