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IRS Issues Final Regulations on Arbitrage Restrictions for Tax-Exempt Bonds

Thursday, December 11, 2003 - 1:45AM

The Internal Revenue Service (IRS) today issued 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 brokers’ commissions and similar fees incurred in connection with the acquisition of guaranteed investment contracts or investments purchased for a yield restricted defeasance escrow. Click here for a copy of the regulations.

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