One paper, one published article and one transcript of testimony that discuss school finance under the Internal Revenue Code of 1986 are presented. "Select Topics of the Tax Reform Act of 1986 for the Issuers of Tax-Exempt Governmental Obligations," by Carla J. Smith, presents three selected topics that address the issuers of tax-exempt…

The consequences of the 1971 California Supreme Court decision "Serrano vs. Priest," in which the court sought to level disparities in school expenditure, and of the 1978 Proposition 13 property tax limitations are examined. The book concludes that changing the way California finances schools without changing the way it governs them has…

The tax exempt bond market continues to be unsettled, but many issues have been resolved by the Tax Reform Act of 1986. These range from very narrow technical adjustments to sweeping new limits applicable to all issuers, with some restrictions aimed directly at colleges and universities. (Author/MSE)

Tax reform increases the need for integrated financial planning of non-traditional income-generating activities and of capital sources and uses. (Author)

Major implications for fund raising in higher education due to the Tax Reform Act of 1986 are discussed. A list of fund- raising resolutions includes: going back to basics and working harder; consequences of last year's donation rush; and answering questions on the new alternative minimum tax. (MLW)

Tax-exempt leasing is examined and compared to other financing mechanisms, and its applicability and the variety of structuring options available to public colleges and universities as lessees are explored. (MSE)

Intellectual property, the knowledge created within the institution in the course of research carried out by its faculty, students, and staff, is an asset unique to colleges and universities and represents a significant opportunity for enhancing the present and future economic position of an institution. (MSE)

Reviews provisions of the Tax Reform Act (1986) affecting schools that issue bonds, notes, or warrants. While interest on school financing will remain tax-exempt, school officials will need to master new concepts involving private agency bonds and arbitrage restrictions. Further erosion of schools' tax-exempt status is likely. (MLH)

Many small, private colleges are examining aggressive ways of economically developing their land and other physical assets by strategies ranging from direct ownership of tangible property to joint and participating ownership arrangements consisting of leases, financing, and partnerships. In all cases, however, potential tax consequences should be…

The Tax Reform Act of 1986 changed the tax laws that affect how law schools raise revenue and how law faculty make expenditures. All law faculty should become familiar with the changes so as to minimize the potentially adverse consequences to themselves and their institutions. (MSE)

Tuition prepayment plans, or tuition futures, are mechanisms that allow families to save now in anticipation of rising college costs. The newly enacted Tax Reform Act of 1986, which eliminates some ways to save for college, accentuates the need for such programs to contain costs and make college more affordable. (MSE)

Capital finance, once limited to financing physical plant, today includes all assets and aspects of institutional life. It now encompasses a wide range of approaches and techniques including pooled debt, capital leases, futures contracts, equity investments, and research partnerships. (MLW)

The rapid deterioration of plant and equipment in higher education institutions necessitates quick action by colleges to assess capital needs. Specific plans of action at campus and national levels are required to resolve the lack of information and policies for meeting these needs. (MSE) ***

The impact of the Tax Reform Act of 1986 on higher education is discussed. Background on the tax reform movement and the specific provisions of the 1986 law are examined. The law will reduce private donations, raise the cost of college, and raise the cost of operating institutions. (MLW)

As a result of the new tax law, many tax benefits have been reduced or eliminated, creating a number of financial challenges to colleges and universities. Most major sources of revenue are impaired, while some expenditures are likely to increase. Fund-raising methods, operating costs, and tuition payments will change. (MSE)