CounselPeter Serreze, a counsel with Ropes & Gray LLP, advises clients on public finance transactions and matters relating to private business use, unrelated trade or business and other not-for-profit tax issues. Pete’s not-for-profit clients include colleges and universities; hospitals, health systems and other health care providers; independent research institutes; and cultural organizations. Serving as borrower counsel, bond counsel or underwriter counsel, Pete assists clients in new money and refunding bond issuances, direct bank placements, original and continuing disclosure, letter of credit replacements, workouts, commercial paper programs, and master trust indenture structures. Pete routinely handles public finance matters before the IRS, including audits, ruling requests and closing agreements.
One specialty is assisting not-for-profit borrowers in developing programs to maintain the compliance of their bond issues with applicable federal tax requirements after the bonds have been issued. He led a group of Ropes & Gray colleagues in writing Post-Issuance Compliance: A Guide to Practical Strategies and Procedures for 501(c)(3) Borrowers, a comprehensive manual used by dozens of universities, hospital systems and other not-for-profit borrowers. He speaks frequently before national and regional groups on the subject of bond compliance, including the Association of Independent Research Institutes, the Treasury Institute for Higher Education and the National Association of College and University Attorneys.
- “As Simple as It Can Be but Not Simpler: Science, Taxes, and Bonds,” Tax Notes (Feb. 17, 2014)
- Post-Issuance Compliance: A Guide to Practical Strategies and Procedures for 501(c)(3) Borrowers, 2nd Ed., published by Ropes & Gray LLP (2009)
- Co-author, "A 10-Step Program for Nonprofit Borrowers in Denial," 124 Tax Notes 1 (2009)
- Co-author, "The Mark-to-Market Election: Is a Home a Shelter?" 94 Tax Notes 4 (2002)
- Speaker, "Private Activity Bond Panel," National Association of Bond Lawyers (March 2014)
- Speaker, "Private Business Use Compliance for Research Institutes," Association of Independent Research Institutes (September 2012)
- Speaker, "Developing Private Business Use Procedures," Treasury Institute for Higher Education (September 2012)
- Speaker, "Introduction to Private Business Use," Treasury Institute for Higher Education (September 2012)
- Speaker, "Tax-Exempt Bond Compliance," National Association of College and University Attorneys (November 2011)
- Speaker, "Private Business Use Tricks & Traps," Treasury Institute for Higher Education (January 2011)
- Speaker, "501(c)(3) Bond Compliance," American Institute of Certified Public Accountants (June 2010)
- Speaker, "Nine Things Exempt Org Lawyers Should Know About 501(c)(3) Bonds," Massachusetts Continuing Legal Education Not-For-Profit Conference (March 2010)
- Speaker, "Tax Exempt Bonds: Post-Issuance Compliance, IRS Enforcement and the New 990," National Association of College and University Attorneys (February 2010)
- Speaker, "Creating a 501(c)(3) Bond Compliance Program," Boston Bar Association Tax-Exempt Committee (December 2009)