PROFNET EXPERT ALERTS: Homebuyer Credit / Illinois Budget / 'Honest Services' Law

Thursday, March 11, 2010 General News
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1. GOVERNMENT: GOV. QUINN'S ILLINOIS STATE BUDGET ADDRESS. RALPH MARTIRE,executive director of the CENTER FOR TAX AND BUDGET ACCOUNTABILITY, canaddress Illinois Gov. Patrick Quinn's request for a tax increase: "Closing thestate's $13 billion-plus deficit in the coming fiscal year with cuts toGeneral Fund services -- education, healthcare, human services and publicsafety -- would require slashing those four key services by 50 percent."Martire (pronounced Mar-teer-ee), who popularized the term "structuraldeficit" and who is a frequent contributor to local and national mediaoutlets, will be on the local NPR affiliate at noon EST today and can becontacted directly. He is based in Chicago. News Contact: Kathy Miller, Phone: +1-312-332-1481 (3/10/10)

2. HOUSING: CHANGES TO HOMEBUYER CREDIT. JENNIFER L. HARRISON, CPA, taxmanager for HLB GROSS COLLINS, PC, in Atlanta: "Congress recently extended andamended the homebuyer credit. Initially, the homebuyer credit was availableonly to first-time homebuyers. The new bill allows existing homeowners toobtain a credit for home purchases if certain criteria are met, raises theamount of the credit, and raises the income limitations for claiming thecredit." The new bill is summarized in the article "Amendments Offer Creditsto Both New and Existing Homebuyers" (available at News Contact: Lane Bassham, Phone: +1-770-433-1711 (3/10/10)

3. LAW: REVIEW OF "HONEST SERVICES" LAW OVERDUE. TOM HAGEMANN, of GARDEREWYNNE SEWELL, and author of "The Sea and the Mirror: Some Reflections onCorporate Honest Services Fraud and the (Hypothetically) InnocentCorporation": "Former Enron CEO Jeffrey Skilling's bid for a new trial wasbolstered last week when the U.S. Supreme Court heard oral arguments relatedto the federal 'honest services' law. A re-examination of the law isimperative as the statute is extraordinarily broad and arguably vague. The lawprohibits employees from depriving employers 'of the intangible right ofhonest services,' giving the government almost unbridled prosecutorial powerto apply that 'right' as it sees fit. While limiting principles may mean fewerprosecutions, they are long overdue." Hagemann tried United States v. Bayly,et al., the case that led an appeal to a wave of cases challenging private-sector honest services fraud prosecutions. News Contact: Rhonda Reddick, Phone: +1-800-559-4534 (3/10/10)

4. LAW: WAGE AND HOUR CLAIM PANDEMIC PLAGUES HEALTHCARE INDUSTRY. SHANTIATKINS, Esq., president and CEO of ELT, the leading specialists in ethics andworkplace compliance training, can provide expert commentary regardingunderstanding the litigation pandemic facing the healthcare industry, and whatcan be done to manage risk and avoid legal missteps: "In 2009, wage and hourclass-action lawsuits exploded, outpacing all workplace discrimination claimscombined. According to the Department of Labor, nearly 70 percent of employersare out of compliance with federal and state wage and hour laws. But theindustry currently hardest hit by the wage and hour lawsuits surge ishealthcare. In an industry where one second could mean life or death, and atthe same time, where managing exploding litigation costs is central toensuring quality patient care, it's important to educate the healthcareworkforce on the basics of state and federal law, as well as individualworkplace policies." News Contact: Shani Wright, Phone:+1-212-219-0321 (3/10/10)

PROFNET is an exclusive service of PR Newswire.To submit an Opportunity by e-mail: profnet@profnet.comTo consult the ProfNet Experts Database: contact ProfNet by phone: +1-800-PROFNET, ext. 1To share a thought on ProfNet Expert Alerts: profnetalerts@prnewswire.com1. Government: Gov. Quinn's Illinois State Budget Address 2. Housing: Changes to Homebuyer Credit 3. Law: Review of 'Honest Services' Law Overdue 4. Law: Wage and Hour Claim Pandemic Plagues Healthcare Industry


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