Part 2: In the Midst of a Federal Government Shutdown, Tax-Exempt Bond Community Receives Long-Awaited Proposed Reissuance Regulations

The Department of the Treasury and IRS provided two New Year’s Eve presents to the tax-exempt bond community. One was the finalization of the public notice regulations, and the second was the issuance of the proposed reissuance regulations, both of which have been long promised, and both of which were published in the Federal Register on Dec. 31, 2018. This GT Alert addresses the proposed reissuance regulations.

The Proposed Reissuance Regulations

The Treasury and IRS published proposed regulations (the Proposed Regulations) under §§150 and 1001 of the Internal Revenue Code of 1986, as amended (the Code), proposing rules for when bonds are deemed retired and reissued. These regulations generally follow existing guidance with some technical changes.

To read the full GT Alert, click here.