Archives: Breaking News

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SLGS! (For Now)

              Treasury has re-opened the sale of SLGS, now that the debt limit has been lifted through December 8. The SLGS window likely will close again around December 8, unless Congress takes further action. (Though the strictures of legal ethics and of logic would counsel us against insinuating that we … Continue Reading

A Chart Summarizing the Changes in the New Non-Issue Price Arbitrage Regulations

In case you missed it, we prepared a chart comparing the differences between the old arbitrage regulations and the new arbitrage regulations that were released recently. We published it as part of Joel’s comprehensive summary of the new regulations, but here is the chart by itself. The chart shows you the old language and the new … Continue Reading

Breaking News: IRS Releases Final Arbitrage Regulations (Unrelated to Issue Price)

The IRS has released final regulations that make a variety of changes to the arbitrage rules for tax-advantaged bonds. These regulations finalize proposed regulations from 2007 and portions of the infamous 2013 proposed regulations that are unrelated to issue price. To say it again, these final regulations do not change the current issue price rules. To recap the … Continue Reading

Tax-Exempt Bond News Roundup

Read below for coverage of the recent hearing on the proposed regulations that would redefine the term “political subdivision” and the 127 comments submitted so far on the same topic. Plus learn more about a private letter ruling addressing a management contract that concludes there was no private business use even though payment of an … Continue Reading

Treasury Corrects Proposed Regulations on Political Subdivisions

This post has been edited to correct an error. The proposed regulations, if finalized, would apply to bonds issued no more than 90 days, not 30 days, after the publication of the final regulations in the Federal Register.  Recently, Treasury proposed a new test for an entity to qualify as a “political subdivision” that is entitled to issue … Continue Reading

Treasury Proposes a Definition of “Political Subdivision” for Tax-Exempt Bonds

Treasury has released long-awaited proposed regulations that define the entities that are “political subdivisions” eligible to issue tax-exempt bonds. The Internal Revenue Code explicitly allows States, territories, possessions of the U.S., or the District of Columbia, or “any political subdivision thereof” to issue tax-exempt bonds. We’ll have more to say about this in coming days.  These … Continue Reading

Breaking: Treasury Department Releases Final Regulations for “Allocation and Accounting” of Private Business Use

The Treasury Department has finalized regulations that it proposed in 2006 to address how to allocate tax-exempt bond proceeds and other sources of funds to a project and other related topics. Click here for a copy of the regulations – we’ll have more on these soon.  … Continue Reading
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