Deep discount industrial development bonds; proposed rulemaking--Internal Revenue Service, Treasury. Notice of proposed rulemaking.
This document contains proposed regulations relating to the determination of the amount of proceeds of issues of industrial development bonds sold by the issuer at a substantial discount. This amount is used in determining whether "substantially all" of the bond proceeds are used for an "exempt purpose", i.e. those described in section 103(b) (4), (5), (6), or (7) of the Internal Revenue Code, and for purposes of the "major portion" test in section 103(b)(2). The regulations would affect issuers, holders, and recipients of the proceeds of industrial development bonds of the type described above.
D002202:Capital Financing / Q000331:legislation & jurisprudence; D007183:Income Tax / Q000331:legislation & jurisprudence*; D007449:Investments / Q000331:legislation & jurisprudence*; D014481:United States