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TREAS/IRS RIN: 1545-BO77 Publication ID: Spring 2018 
Title: ●Arbitrage Investment Restrictions of Tax-Exempt Bonds 
Abstract:

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.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Other 
CFR Citation: 26 CFR 1.148-1   
Legal Authority: 26 U.S.C. 7805    26 U.S.C. 148(i)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/00/2018 
Additional Information: 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
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Local, State, Tribal 
Small Entities Affected: Governmental Jurisdictions  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Vicky Tsilas
General Attorney (Tax)
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW., Room 4013,
Washington, DC 20224
Phone:202 622-3980
Fax:202 317-4447
Email: vicky.tsilas@irscounsel.treas.gov