BW INSIGHTS

End of LIBOR is Here

The London Interbank Offering Rate (commonly known as LIBOR) has been a key benchmark for setting the interest rates charged on adjustable rate loans, mortgages and corporate debt for the last 40 years. Due to concerns that the benchmark was being manipulated, LIBOR has been phased out over the last few years. Effective June 30, 2023, the... Read More

BrownWinick Wins Special Education Case before the Iowa Department of Education on behalf of Student with Disabilities

BrownWinick celebrates attorney Jack O’Brien’s success in advocating for the rights of students with disabilities before the Iowa Department of Education. For the past two years, Jack O’Brien has worked with his client the Disabilities Resource Center of Siouxland (the “DRC”) to advocate for students in the Siouxland area with disabilities. One... Read More

Direct Pay Election and Transferability of Certain Energy Credits

On June 21, 2023, the IRS issued proposed regulations for Internal Revenue Code (“IRC”) Sections 6417 and 6418, which relate to an election for direct payments of certain energy-related credits and transferability of certain energy credits, respectively. Furthermore, the IRS released FAQs regarding elective pay and transferability on June 14,... Read More

Now is the Time for Plan Sponsors to Correct Plan Errors: IRS Issues Guidance on the Expansion of EPCRS and Self-Corrections

The Internal Revenue Service (IRS) has issued interim guidance, provided in Notice 2023-43, that explains the expansion of plan sponsors’ ability to self-correct errors in qualified retirement plans. The Employee Plans Compliance Resolution System (EPCRS) sets forth the IRS’s guidance to plan sponsors on how to correct errors relating to qualified... Read More

Iowa Workforce Development Expands Registered Apprenticeship Programs

Governor Reynolds continues to work towards creating new and expanding current opportunities for apprenticeships throughout the state. At the beginning of the 2023 Legislative Session, Governor Reynolds gave her Condition of the State address where she announced new funding that would be focused on growing Iowa’s Registered Apprenticeship (RA)... Read More

Child Labor Regulations Relaxed in Iowa

On May 26, 2023, Iowa experienced a significant development in its child labor laws as Governor Kim Reynolds signed a new bill into law. This legislation, which had previously cleared the state legislature (House 60-34, Senate 29-18), was submitted to Governor Reynolds for her final approval on May 3, 2023. The newly enacted law modifies existing... Read More

ChatGPT - A Legal Client's Friend or Foe?

ChatGPT was released by OpenAI in November of 2022. ChatGPT is a natural language processing tool that is powered by artificial intelligence. Stated another way, ChatGPT is an artificial intelligence chatbot that can interact with users by answering questions; drafting essays, letters, or poems; generating artwork; and more. ChatGPT has been... Read More

Is Your Content Being Taken and Reposted Without Your Permission? Here’s How to Effectively Combat Copyright Infringement on Social Media

It is no secret that copyright infringement is becoming more and more common across all widely used social media platforms. Many online content creators with a significant following have probably experienced their copyrighted material being reposted online without their authorization. Indeed, they may have experienced this unpleasant phenomenon... Read More

Non-Compete Agreements Facing Additional Challenges

On May 24, 2023, Governor Walz signed into law a significant change to the enforceability of employee covenants not to compete. In any employment agreement entered into on or after July 1, 2023, post-employment covenants not to compete will be void and unenforceable. Iowa employers conducting business with Minnesota employees, including remote... Read More

U.S. Supreme Court Greatly Narrows the Definition of Wetlands in the Clean Water Act

On May 25, 2023, the United States Supreme Court issued a much-anticipated decision in the Sackett v. EPA case. At issue was whether “Waters of the United States” (“WOTUS”) could include wetlands that are not directly and continuously connected to navigable waters. All nine justices were unanimous in finding that the EPA overstepped its statutory... Read More