Clifford M. Gerber

Of Counsel
Norton Rose Fulbright US LLP

San Francisco
United States
T:+1 628 231 6802
San Francisco
United States
T:+1 628 231 6802
Clifford M. Gerber

Clifford M. Gerber


Related services and key industries


Cliff is a tax lawyer who is nationally recognized in the federal income tax aspects of tax-exempt financing. Cliff provides tax advice to many cities, counties, special districts and other issuing agencies, and to large and medium-sized healthcare systems in connection with their tax-exempt financings. He also provides ongoing tax advice as lender's counsel in connection with tax-exempt lendings for nonprofit K-12 schools, community organizations and cultural institutions. Cliff also provides tax advice in connection with college and university bond issues.

With respect to large municipal issues, Cliff works on the financing of large infrastructure projects, including projects for water, wastewater, transportation and public power. He has also worked on airport and port financings. Cliff also works with California school and community college districts in their capital and cash-flow financings. During the COVID-19 pandemic Cliff has worked with county, state, and school and community college district issuers in connection with their short-term cash-flow borrowings to address their financial uncertainties.

A portion of Cliff's practice entails providing bond-related tax advice to investors in low-income housing tax credit transactions. Cliff has handled many different types of IRS tax-exempt bond examinations for a multitude of clients. He has also provided bond-related tax advice for significant municipal workouts and bankruptcies.

Cliff was President of the National Association of Bond Lawyers (NABL) from 2016 to 2017 and served in various capacities while on the NABL Board of Directors. Cliff also served on the Board of Directors of the American College of Bond Counsel (ACBC) from 2005 to 2011, and served as ACBC's Treasurer from 2008 to 2011. Cliff also served as Chair of the Tax-Exempt Financing Committee of the American Bar Association Section of Taxation from 2005 to 2007. He continues to be a frequent speaker at tax and municipal bond conferences. Cliff has been recognized in the 2012 through 2021 editions of The Best Lawyers in America in Public Finance and Municipal Law.

Professional experience

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LLM, in Taxation, New York University School of Law, 1982
JD, Hofstra University School of Law (Editor, Hofstra Law Review), 1979
BS, magna cum laude, University at Albany, 1976

  • California State Bar
  • New York State Bar
  • Legal 500 US, recommended lawyer, tax: international tax, The Legal 500, 2017
  • Lawyer of the Year, San Francisco: Public Finance Law, Best Lawyers, 2018
  • The Best Lawyers in America, Lawyer of the Year, Public Finance Law, Best Lawyers, 2023
  • Best Lawyers - Municipal Law, Best Lawyers, 2012 – 2024
  • Best Lawyers - Public Finance, Best Lawyers, 2012 – 2024
  • National Association of Bond Lawyers; President and member of Board of Directors
  • ABA Tax Section Tax-Exempt Financing Committee; Chair, 2005–2007  
  • American College of Bond Counsel; Board of Directors, 2005–2011; Treasurer, 2008–2011