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Peter D. Smith


Peter D. Smith


T:+1 512 536 3090

Peter Smith's practice focuses on the tax aspects of public finance transactions.  He also has significant experience in other facets of U.S. federal tax law, including tax-exempt organizations and international tax matters, as well as on healthcare transactions.

Since joining the Austin office in 2007, Peter has served as tax counsel on a broad range of tax-exempt financings, including bonds issued by large cities, counties, state agencies, utilities, universities, hospital districts, and school districts.  Such transactions have included long-term debt (both fixed and multi-modal qualified tender bonds) and short-term commercial paper programs, and have involved fixed interest rate swaps and other derivatives.  He has also worked on pooled financings and stadium financings, and on many conduit financings for major healthcare systems and other tax-exempt organizations.

Peter has significant experience with debt obligations issued under the American Recovery and Reinvestment Act of 2009 (ARRA) and the Hiring Incentives to Restore Employment (HIRE) Act, including direct-pay Build America Bonds, Qualified School Construction Bonds (both tax-credit and direct-pay), Qualified Energy Conservation Bonds, Qualified Zone Academy Bonds, and Recovery Zone Economic Development Bonds.  His experience also includes the issuance of various types of exempt facility bonds, including Recovery Zone Facility Bonds and Hurricane Ike disaster area bonds.

In addition to public finance transactions, Peter has advised a number of large global energy companies with respect to the tax consequences associated with offshore exploration and exploitation of natural resources on the US Outer Continental Shelf, and frequently advises exempt organizations with respect to their formation, operations, and transactions.

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  • Education

    LL.M., Taxation, New York University School of Law, 2006
    JD, magna cum laude, New York University School of Law, 2006
    BS, cum laude, Computer Science, Duke University, 2000

    While attending law school, Peter was an article editor for the Annual Survey of American Law, was a member of Order of the Coif and was named a Butler Scholar, denoting his ranking among the top ten students after four semesters.

    Peter is admitted to practice in New York and Texas.

  • Admissions
    • New York State Bar
    • Texas State Bar
  • Publications
    • Co-Author, "Final Regulations on Issue Price Impose New Restrictions on the Offering and Sale of Tax-Exempt Bonds," Texas Tax Lawyer, Spring 2017
    • Co-Author, "IRS Updates Tax Rules Relating to Qualified Management Contracts," Texas Tax Lawyer, Spring 2017
    • Co-Author, "New Tax Rules Relating to Healthcare Management Contracts," Texas Tax Lawyer, Fall 2016
    • Co-Author, "IRS notice on ACOs and tax-exempt bonds: Management contract guidelines also amended," Norton Rose Fulbright - Legal Update, October 2014 
    • Co-Author, "Treasury Publishes Long Awaited Guidance on Series LLCs," Fulbright Briefing, September 2010
    • "Anticipating Too Much: Why the Court Should Avoid Expanding the Doctrine of Inherent Anticipation," 61 N.Y.U. Ann. Surv. Am. L. 823, 2006
  • Speaking engagements
    • "Recent IRS Guidance on Tax-Exempt Bonds: Management and Physician Contracts," Web Seminar, Norton Rose Fulbright US LLP, March 9, 2017
    • "Key Points of Corporate Law," Rice Alliance Entrepreneur Workshop, Austin, Texas, October 15, 2015
    • "What You Need to Know Before and After Issuing County Bonds," Texas Association of County Auditors Annual Conference, College Station, Texas, October 19, 2011
    • "What You Need to Do Before and After Issuing Bonds," Texas Municipal League Annual Conference, Houston, Texas, October 12, 2015
  • Memberships and activities
    • State Bar of Texas Tax Section, Chair of Tax-Exempt Finance Committee (2012-2016), Vice-Chair of Tax-Exempt Finance Committee (2010-2012), Chair of Tax App Committee (2014-2016)
    • National Association of Bond Lawyers
    • Texas Bar Association
    • New York Bar Association