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The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) plans to publish a notice of proposed rulemaking to amend regulation 31 CFR part 344 to make modest reductions in the current flexibilities available under the State and Local Government Series (SLGS) regulations.  In particular, the proposed regulations would eliminate certain practices that tax-exempt issuers may have used to create cost-free options in violation of the SLGS regulations.  Additionally, the program would be expanded to include issuers of other tax-advantaged securities and amended to make technical corrections.  Fiscal Service will request public comment on all aspects of the proposed rule, including the costs and difficulties posed to such issuers.