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
- Hawkins Attorneys Featured at Bond Attorneys’ Workshop
Four Hawkins attorneys will serve on panels at the National Association of Bond Lawyers 43rd annual Bond Attorneys’ Workshop which will be held September 26-28, 2018 in Chicago.
- Qualified Opportunity Zones
This Hawkins Advisory issue describes the Qualified Opportunity Zones - IRC Sections 1400Z-1 and 1400Z-2.
- 2018 Area Median Gross Income Figures
This issue of the Hawkins Advisory contains information of specific interest to single-family housing bond issuers regarding area median gross income figures.
- Rev. Proc. 2018-26: Supplemental Remedial Action Rules for Tax Advantaged Bonds
This issue of the Hawkins Advisory describes remedial action provisions set forth in Rev. Proc. 2018-26.