IRS Notice 2011-63 – Volume Cap and Timing of Issuing Bonds
On August 3, 2011, the Internal Revenue Service (“IRS”) released Notice 2011-63 (the “2011 Notice”), providing supplemental guidance on how to determine when State and local bonds, specifically bonds issued pursuant to a draw-down loan or issued pursuant to a commercial paper program, are considered “issued” for purposes of volume cap limitations under section 146 of the Code. The 2011 Notice amends and supplements Notice 2010-81 that was released November 23, 2010 (the “2010 Notice”).
Also of Interest
- Final TEFRA Hearing & Approval Regulations
This issue of the Hawkins Advisory discusses TEFRA final regulations.
- IRS Proposed Issuance Regulations
This edition of the Hawkins Advisory summarizes these proposed regulations and discusses the effects of a retirement or reissuance of tax-exempt bonds.
- Qualified Opportunity Funds - Initial Proposed Regulations
Hawkins Advisory on recently released proposed regulations: Preliminary Guidance to Opportunity Zone Investors.
- Jay Eustis Elected to American College of Bond Attorneys
Jay Eustis has been elected a Fellow of the American College of Bond Attorneys (ACBC).