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Arbitrage Restrictions Applicable to Tax-Exempt Bonds Issued by State and Local Governments

Federal Register, December 11, 2003, Page 69020

Agency

Internal Revenue Service (IRS), Treasury

Action

Final regulations

Summary

This document contains final regulations on the arbitrage restrictions applicable to tax-exempt bonds issued by state and local governments. The regulations affect issuers of tax-exempt bonds and provide a safe harbor for qualified administrative costs for broker's commissions and similar fees incurred in connection with the acquisition of guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow.

Dates

Effective Date: These regulations are effective February 9, 2004. Applicability Date: For dates of applicability, see Sec. 1.148-11(i) of these regulations.

Further Information

Rose M. Weber, (202) 622-3980 (not a toll-free number).

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