1545-BO77 201904 Unified Agenda of Federal Regulatory and Deregulatory Actions 1545 Internal Revenue Service IRS 1500 Department of the Treasury TREAS Arbitrage Investment Restrictions of Tax-Exempt Bonds

The final regulations 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 final 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.

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Final Rule Stage No No Other 26 CFR 1.148-1 26 U.S.C. 7805 26 U.S.C. 148(i) No NPRM 06/12/2018 83 FR 27302 NPRM Comment Period End 09/10/2018 Final Action 06/00/2019 REG-106977-18 (NPRM) Drafter attorney: Lewis Bell (202) 317-6980 Reviewer attorney: Spence Hanemann (202) 317-4554 Treasury attorney: John Cross (202) 622-1782 CC:FIP No Governmental Jurisdictions Local State Tribal No No No No Lewis Bell Tax Attorney 1545 Internal Revenue Service IRS 202 317-6980 855 574-9027 lewis.bell@irscounsel.treas.gov 1111 Constitution Avenue NW., Room 3547, Washington DC 20224