Debevoise tax partner Rafael Kariyev spoke with Buyouts about how tax reform could potentially impact public pensions, as provisions in the bill passed by the House would make unrelated business taxable income (UBTI) taxable for public pensions.

Buyouts reported, “It’s difficult to fully gauge the section’s full impact, given the uncertainty around tax reform. Certain funds might offer public pension LPS a chance to restructure their agreements, though some LPS might not even go through with that process, said Rafael Kariyev of the law firm Debevoise & Plimpton.”