Matthias Edrich, a partner in Kutak Rock’s Denver office, was recently quoted in the May 10 Bond Buyer article “IRS private letter ruling a breakthrough for ports, airports.”

The article explains a May 3 private letter ruling from the IRS addressing the practical application of useful life determinations for port and airport facilities financed with tax-exempt facility bonds. According to the article, “calculating the remaining useful life of a port or airport facility can be problematic, but the IRS ruling supports a simplified method of making this determination using the date of the new agreement as a starting point.”

Edrich described that date as a practical starting point. “It allows for a more current determination of the actual remaining useful life of property rather than relying on useful life determinations that may have been made many years previously when the related bonds were originally issued.”

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Edrich is a member of Kutak Rock’s national federal tax and public finance practice. His work focuses on U.S. tax aspects of financial instruments, with an emphasis on tax-exempt and tax credit bonds.