The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). UNITED STATES Illinois: Cook County’s property tax system needs reform. Here’s how to fix it. Accuracy in assessments, fair hiring, reforming the tax appeals process are some measures that must...

Earlier this week, the European Parliament adopted its position on a new law targeting methane emissions reduction from the energy sector, aiming to achieve the EU’s climate goals and improve air quality. This law, the first of its kind in the EU, focuses on reducing methane emissions from the oil, fossil gas, coal, and biomethane sectors. Members of Parliament (MEPs) also propose including the petrochemicals sector in the scope of the new rules. Methane is a potent greenhouse gas responsible for about one-third of...

Editor's Note: Indiana became the latest state to enact a comprehensive privacy law, with Montana and Tennessee close behind. Washington passed sweeping legislation — the My Health My Data Act — which included a private right of action. At the federal level, the CFPB announced a breach of sensitive personal information. In U.S. litigation, the Third Circuit held that the number of visitors to an online privacy policy was relevant to whether the privacy policy was sufficiently user-friendly, the...

A non-compete clause is a “contractual term between an employer and a worker that blocks the worker from working for a competing employer, or starting a competing business, typically within a certain geographic area and period of time after the worker’s employment ends.” This is the definition of a non-compete clause directly from the Federal Trade Commission (FTC). This year may finally be the year non-compete clauses bite the dust, however, after decades of organizing/effort by employees and labor...

Chicago – Cushman & Wakefield (NYSE: CWK) announced today that the Board of Directors has accepted John Forrester’s intent to retire from his position as Chief Executive Officer (CEO) and member of the Board of Directors, effective June 30, 2023, following 35 years of service to the company. As part of the Company’s long-standing succession plan, Cushman & Wakefield’s Board of Directors appointed Michelle MacKay, currently President and Chief Operating Officer (COO), to assume the role of CEO as of July...

In this week’s Roar: hopes for a second-half rebound, solid vessel reliability, a mixed bag in air cargo, removing drayage emissions, and meeting ocean sustainability goals. Looking at the current state of the economy, some things are trending positive for the second half of 2023. In fact, some feel that the only way is up. But a full supply chain recovery is still questionable. There were expectations that China’s reopening would unleash a tsunami of pent-up demand, but at this...

On May 3, 2023, the U.S. Securities and Exchange Commission adopted amendments (the share repurchase amendments) to its rules regarding disclosure of securities repurchase programs (also known as share buybacks) by companies and their affiliates. The amendments were initially proposed in December 2021 (see our previous alert) and were subject to two comment periods. According to the SEC release (the Adopting Release), the amendments are intended to provide investors with enhanced information to use in assessing the purpose and...

After many months of negotiations, members of the European Parliament (MEPs) have found a compromise on the flagship legislative proposal on Artificial Intelligence (AI), the AI Act.  The Act could become a global standard, similar to the GDPR which had major implications for firms worldwide. The European law on AI was proposed by the Commission in April 2021 and could become the first AI law by a major regulator worldwide. After the Commission published its proposal, EU ministers green-lighted a general...