1545-BQ20 202504 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Refunding Bonds

These proposed regulations will clarify rules under section 148 and definitions under section 150 regarding refunding bonds. For example, it is expected these regulations will clarify the valuation of certain investments allocated to refunding issues and provide guidance on when issues of student loan bonds and mortgage revenue bonds will be treated as refunding issues.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Proposed Rule Stage No No Other 26 CFR 1.148-1 26 CFR 1.148-3 26 CFR 1.148-5 26 CFR 1.148-6 26 CFR 1.150-1 26 U.S.C. 148(i) 26 U.S.C. 7805 No NPRM 02/00/2026 REG-117298-21 (NPRM) Drafter attorney: Brian Choi (202) 317- 6980 Reviewer attorney: Zoran Stojanovic (202) 317-6980 Treasury attorney: David Bergman (202) 705-2463 CC: FIP No Local State Tribal No No No Brian Choi Attorney 1545 Internal Revenue Service IRS 202 317-6980 855 574-9027 brian.m.choi@irscounsel.treas.gov 1111 Constitution Avenue NW,, Room 3547, Washington DC 20224