Bond Financing & Tax Incremental Financing
Like any businesses looking to grow, health care facilities of various types require, at times, assistance with commercial real estate and public debt financing.
Over the past 30 years, our firm has represented every major commercial bank in Kentucky and Tennessee, many Georgia-based and regional banks, and a number of insurance companies. Our attorneys have handled financing transactions ranging from small-ticket lease programs and small business loans to sophisticated, complex structured-financing transactions like syndicated credit facilities, synthetic lease transactions, securitizations, tax-exempt bond financing, tax increment financing, tax credit financing and other creative financing arrangements.
Our experience also includes:
- Leveraged equipment financing
- Vendor financing programs
- Project financing
- Conduit lending
- Mortgage warehouse lending
- Leveraged acquisition lending
- Leveraged employee stock ownership plan loans
- A variety of asset-based loan transactions with collateral ranging from traditional accounts receivable and inventory to more specialized property like hospital and nursing home assets, health care complexes, and medical centers.
Mergers, Acquisitions, Joint Ventures and other Affiliations
We provide a full range of merger and acquisition (M&A) services to our health care clients. Whether a health care business is acquiring or being acquired by another business, our attorneys help determine the most beneficial structure for the M&A transaction from a corporate, financing, tax, liability, antitrust, regulatory and (in the case of a closely held business) estate planning perspective.
Our experience in negotiating and documenting M&A transactions is extensive. In addition, the broad range of experience within our firm allows us to assist and expedite virtually any regulatory aspects of the M&A transaction itself or the businesses involved – including, for example, obtaining the necessary health care licenses, permits and registrations.
The attorneys of Stites & Harbison assist both for-profit and not-for-profit health care clients with tax planning and litigation on the federal, state and local levels. Our tax practitioners include a former United States Tax Court law clerk and a former attorney for the Internal Revenue Service's Office of Chief Counsel (Tax Court).
Other services include:
- Helping clients structure corporate reorganizations, redemption transactions, spinoffs, splitoffs, liquidations, and tax free exchanges. We also represent clients before the Internal Revenue Service Appeals Office, the United States Tax Court, the U.S. District Courts, and federal appellate courts on federal income tax matters.
- Representing a number of large multistate, multinational corporations in complex State and Local Tax ("SALT") matters, and successfully representing many other businesses and individuals as well.
- Appearing before the Kentucky Department of Revenue, Board of Tax Appeals, and all levels of the courts regarding state income and license taxes, sales and use taxes, and property taxes.
- Several members of our tax practice group have Master-of-Law degrees in taxation.
In its 2021 regular session, the Kentucky General Assembly passed, and ultimately overrode Governor Andy Beshear’s veto of, House Bill 312 to amend the Kentucky Open Records Act, KRS 61.870 to KRS 61.884. Effective as of June 29, 2021, among other changes, the amended Act will restrict inspection rights to Kentucky “residents,” require public agencies to accept emailed open records requests, and extend public agencies’ time for handling requests from three days to five days.
Medicare and Medicaid billing mistakes can result in fraud investigations with serious, long-lasting consequences. Providers may be required to pay back up to three times the amount they were paid for improperly billed services. In addition, if the government finds that the improper billing was intentional, providers can face criminal charges, the loss of professional licenses, and exclusion from participation in Medicare and Medicaid.
The Centers for Medicare & Medicaid Services (CMS) has recently begun to send warning letters to hospitals that are not in compliance with the recently effective price transparency rule. This warning comes on the heels of CMS’s audits of a sample of hospitals in January.
LOUISVILLE, Ky.—The American Bar Association (ABA) Health Law Section has ranked Stites & Harbison, PLLC in 6th place in its Eighth Annual Regional Law Firm Recognition List for the South region for 2020.
LOUISVILLE, Ky.—Leadership Louisville recently announced that Stites & Harbison, PLLC attorney Brian A. Cromer is one of 47 community leaders selected for membership in the 2021 Bingham Fellows class.
LOUISVILLE, Ky.—Stites & Harbison, PLLC announced today that three attorneys have been promoted within the law firm effective January 2021.
ATLANTA—Georgia Trend magazine has selected Stites & Harbison, PLLC attorney William M. (Bill) Joseph as one of its 2020 Legal Elite in the category of Taxes/Estates/Trusts Law. This is the seventh time Joseph has earned the Legal Elite honor.