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Arbitrage Guidance for Tax-Exempt Bonds

Federal Register, September 26, 2007, Page 54606-54614


Department of the Treasury - Internal Revenue Service


Notice of Proposed Rulemaking and Notice of Public Hearing


This document contains proposed regulations on the arbitrage restrictions under section 148 of the Internal Revenue Code applicable to tax-exempt bonds issued by State and local governments. These proposed regulations are being issued in order to update existing regulations to address certain current market developments, to simplify and correct certain provisions, and to make existing regulations more administrable. These proposed regulations affect State and local governmental issuers of tax-exempt bonds. This document also provides notice of a public hearing on these proposed regulations.


Written or electronic comments must be received by December 26, 2007. Outlines of topics to be discussed at the public hearing scheduled for January 30, 2008, at 10 a.m., must be received by January 2, 2008.


Send submissions to: CC:PA:LPD:PR (REG-106143-07), Internal Revenue Service, PO Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand delivered to: CC:PA:LPD:PR Monday through Friday between the hours of 8 a.m. and 4 p.m. to CC:PA:LPD:PR (REG-106143-07), Courier's Desk, Internal Revenue Service, 1111 Constitution Avenue, NW., Washington, DC, or sent electronically via the Federal eRulemaking Portal at (IRS REG-106143- 07). The public hearing will be held in the Main IRS Auditorium at the Internal Revenue Building, 1111 Constitution Avenue, NW., Washington, DC.

Further Information

Concerning the proposed regulations, Carla Young, (202) 622-3980; concerning submissions of comments and the hearing,, or (202) 622-7180 (not toll-free numbers).