IRS Publishes Proposed Regulations on Definition of Private Activity Bonds
The Internal Revenue Service (IRS) this week published proposed regulations on the definition of private activity bond applicable to tax-exempt bonds issued by state and local governments. These regulations affect issuers of tax-exempt bonds and provide needed guidance for applying the private activity bond restrictions to refunding issues. The IRS also announced a public hearing and invited public comments on these proposed regulations. Click here for the proposed regulations and instructions on submitting comments.