Final PAB Public Approval Requirements-- a Mixed Bag

The final IRS – Treasury rule on public approval of private activity bonds is in the Federal Register on Monday December 31, here. With the assistance of my partner Christie Martin, NAHEFFA commented on the draft regs in 2017. The new procedures will apply to bonds issued subject to such public approval occurring 90 days from December 31 and thereafter except that the new provision on insubstantial deviations may be applied to bonds issued subject to a public hearing which occurred before that period.

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