October 3, 2017
Tax-Exempt Bond Update: IRS Proposes Changes to Public Approval Requirements for Private Activity Bonds
The Internal Revenue Service has proposed regulations (the “Proposed Regulations”) with respect to the public approval requirements for tax-exempt private activity bonds under Section 147(f) of the Internal Revenue Code, commonly known as TEFRA requirements. The Proposed Regulations will affect conduit issuers and borrowers, such as 501(c)(3) organizations and developers of low-income multifamily housing and other exempt facilities.
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