1545-BO77 201804 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Arbitrage Investment Restrictions of Tax-Exempt Bonds

The regulations propose to amend existing regulations under section 148 of the Internal Revenue Code regarding the definition of investment-type property covered by arbitrage restrictions to provide an exception for investments in capital projects that are used in furtherance of the public purposes of the bonds. The proposed regulations affect State and local governmental issuers of tax-exempt bonds and tax-advantaged bonds and potential investors in capital projects financed with these bonds.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Proposed Rule Stage No No Other 26 CFR 1.148-1 26 U.S.C. 7805 26 U.S.C. 148(i) No NPRM 12/00/2018 REG-106977-18 (NPRM) Drafter attorney: Vicky Tsilas (202) 317-4447 Reviewer attorney: Johanna Som de Cerff (202) 317-6980 Treasury attorney: John Cross (202) 622-1782 CC:FIP No Governmental Jurisdictions Local State Tribal No No No No Vicky Tsilas General Attorney (Tax) 1545 Internal Revenue Service IRS 202 622-3980 202 317-4447 vicky.tsilas@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 4013, Washington DC 20224