80 FR 74677 - General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction

DEPARTMENT OF THE TREASURY
Internal Revenue Service

Federal Register Volume 80, Issue 229 (November 30, 2015)

This document contains corrections to final regulations (TD 9741) that were published in the Federal Register on Tuesday, October 27, 2015 (80 FR 65637). The final regulations provide guidance on allocation and accounting, and certain remedial actions, for purposes of the private activity bond restrictions under section 141of the Internal Revenue Code that apply to tax-exempt bonds issued by State and local governments.

[Federal Register Volume 80, Number 229 (Monday, November 30, 2015)]
[Rules and Regulations]
[Pages 74677-74678]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-30322]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9741]
RIN 1545-BB23; 1545-BC07; 1545-BH48


General Allocation and Accounting Regulations Under Section 141; 
Remedial Actions for Tax-Exempt Bonds; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final regulations; correcting amendment.

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SUMMARY: This document contains corrections to final regulations (TD 
9741) that were published in the Federal Register on Tuesday, October 
27, 2015 (80 FR 65637). The final regulations provide guidance on 
allocation and accounting, and certain remedial actions, for purposes 
of the private activity bond restrictions under section 141of the 
Internal Revenue Code that apply to tax-exempt bonds issued by State 
and local governments.

DATES: This correction is effective November 30, 2015 and applicable 
October 27, 2015.

[[Page 74678]]


FOR FURTHER INFORMATION CONTACT: Johanna Som de Cerff or Zoran 
Stojanovic at (202) 317-6980 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9741) that are the subject of this 
correction are under section 141 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9741) contains an error 
that may prove to be misleading and is in need of clarification.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

    Accordingly, 26 CFR part 1 is corrected by making the following 
correcting amendment:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read in 
part as follows:

    Authority: 26 U.S.C. 7805 * * *


0
Par. 2. Section 1.141-15 is amended by revising paragraph (l)(1) to 
read as follows:


Sec.  1.41-15  Effective/applicability dates.

* * * * *
    (l) * * * (1) In general. Except as otherwise provided in this 
section, Sec. Sec.  1.141-1(e), 1.141-3(g)(2)(v), 1.141-6, 1.141-13(d), 
and 1.145-2(b)(4), (b)(5), and (c)(2) apply to bonds that are sold on 
or after January 25, 2016, and to which the 1997 regulations (as 
defined in paragraph (b)(1) of this section) apply.
* * * * *

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-30322 Filed 11-27-15; 8:45 am]
 BILLING CODE 4830-01-P