Federal Register #REG-117298-21

IRS Proposed Regulations on Tax-Exempt Refunding Bonds – Regulatory Hearing Notice

This opportunity is a regulatory notice from the Internal Revenue Service (IRS) and does not involve procurement of products or services. - Issuing Agency: Internal Revenue Service (IRS), Department of the Treasury - Subject: Proposed regulations on tax-exempt and other tax-advantaged bonds - Key points of the proposed regulations: - Updates to arbitrage rules and definitions for tax-exempt bonds - Clarification of procedures for requesting refunds of rebate overpayments - Special transition rules for transferred proceeds - Limitations on allocations to expenditures - Updated IRS address for filing defeasance notices - Revisions to provisions for perpetual State guarantee funds - Updated definitions for tax-exempt bonds and refunding issues - No OEMs, vendors, or product/service requirements are specified - This is a regulatory hearing notice, not a procurement solicitation

Description

This document contains proposed regulations that would update certain arbitrage rules and definitions applicable to tax-exempt and other tax-advantaged bonds. The updates clarify the time and manner for requesting refunds of overpayment of rebate to the United States, the special transition rule for transferred proceeds, the limitation on allocations to expenditures, and the IRS address for filing defeasance notices. The proposed regulations also revise provisions addressing certain perpetual State guarantee funds, the definition of tax-exempt bond, and the definition of refunding issue. These regulations would affect issuers of tax-advantaged bonds.

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