Arbitrage investment restrictions, tax-exempt bonds | KPMG | US

Final regulations: Arbitrage investment restrictions, tax-exempt bonds

Arbitrage investment restrictions, tax-exempt bonds

The Treasury Department and IRS today released for publication in the Federal Register final regulations (T.D. 9777) concerning the arbitrage investment restrictions under section 148 and related provisions that apply to tax-exempt bonds and other tax-advantaged bonds issued by state and local governments.


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The final regulations [PDF 276 KB] adopt, with amendments, regulations that were proposed to amend the existing regulations from 1993. The regulations as released today are 78 pages. The purpose of this report is to provide text of the final regulations.

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