Perry Israel

Perry Israel

610 Regency Circle
Sacramento, CA 95864
(916) 485-6645

Perry E. Israel concentrates his practice in tax-exempt financing, Indian tribal financing, low-income housing credits, and mortgage credit certificates. He has acted as tax counsel, bond counsel, and underwriter's counsel on a variety of financings for a wide range of projects including health care facilities, sewer and water projects, municipal hotel projects, state general obligation bonds, Tribal hotels and convention centers, and single- and multi-family housing.

Perry acts as a consultant or special tax counsel to various bond counsel firms across the country. He also advises issuers and conduit borrower on post-issuance compliance matters and represents issuers and borrowers in audit examinations by the Internal Revenue Service. In addition, he works with municipal bankers in the development of derivative products and structuring of appropriate solutions for client.

Prior to starting his own practice in 2007, Perry was a partner at Orrick, Herrington & Sutcliffe llp in San Francisco and Sacramento for 20 years. Perry started his career in Boston with Palmer and Dodge and moved to Orrick in 1984.

Perry was a member of the inaugural Tax Exempt Advisory Committee, where he acted as an advisor to the Internal Revenue Service's Tax Exempt/Governmental Entities Group, focusing on tax-exempt bonds. He has been active as a panelist for the Bond Attorney's Workshop and the Arbitrage Seminars of the National Association of Bond Lawyers. He has also chaired seminars and workshops for the association. He also served on the Board of Directors of NABL and acted as Secretary to the Association. He lectures frequently on matters relating to tax-exempt financing.

Perry authored the Orrick, Herrington & Sutcliffe Arbitrage Rebate Manual (1990) and was the initial Editor-in-Chief of Federal Income Taxation of Municipal State Bonds: Statutes, Regulations and Rulings (Prentice Hall Law: Business, 1993; currently published by LexisNexis). He has also authored several short articles related to tax-exempt financing.


* LL.M., Taxation, Boston University School of Law, 1984

* J.D., cum laude, Boston University School of Law, 1979

* Boston University Law Review, 1977 - 1979

* A.B., English (Creative Writing), Princeton University, 1976


* Committee on Tax-Exempt Financing of the American Bar Association’s Tax Section

* National Association of Bond Lawyers