80 FR 74678 - 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)

Page Range		74678-74678
FR Document		2015-30321

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 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 Issue 229 (Monday, November 30, 2015)

[Federal Register Volume 80, Number 229 (Monday, November 30, 2015)]
[Rules and Regulations]
[Page 74678]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-30321]


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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; correction.

-----------------------------------------------------------------------

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 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.

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 sections 141 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 9741) contain errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the final regulations (TD 9741), that are subject to 
FR Doc. 2015-27328, are corrected as follows:
    1. On page 65641, in the preamble, third column, the second and 
third sentences of the first full paragraph, under paragraph heading 
``Anticipatory Redemptions, ''the language ``This allows targeting of 
funds other than tax-exempt bond proceeds to finance portions of 
projects that are expected to be used for private business use in the 
future. The intent of this proposed rule is to encourage retirement of 
tax-exempt bonds before the occurrence of nonqualified use.'' is 
corrected to read ``This would have allowed targeting of funds other 
than tax-exempt bond proceeds to finance portions of projects that are 
expected to be used for private business use in the future. The intent 
of this proposed rule was to encourage retirement of tax-exempt bonds 
before the occurrence of nonqualified use''.
    2. On page 65642, in the preamble, first column, first sentence of 
the third full paragraph, under paragraph heading ``Nonqualified 
Bonds,'' the language ``Commenters generally agreed with the proposed 
change that allows any bonds of any issue to be treated as the'' is 
corrected to read ``Commenters generally agreed with the proposed 
change that allows any bonds of an issue to be treated as the''.

Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2015-30321 Filed 11-27-15; 8:45 am]
 BILLING CODE 4830-01-P

74678 Federal Register / Vol. 80, No. 229 / Monday, November 30, 2015 / Rules and Regulations

FOR FURTHER INFORMATION CONTACT: DEPARTMENT OF THE TREASURY funds other than tax-exempt bond
Johanna Som de Cerff or Zoran proceeds to finance portions of projects
Stojanovic at (202) 317–6980 (not a toll- Internal Revenue Service that are expected to be used for private
free number). business use in the future. The intent of
26 CFR Part 1 this proposed rule was to encourage
SUPPLEMENTARY INFORMATION: retirement of tax-exempt bonds before
[TD 9741]
Background the occurrence of nonqualified use’’.
RIN 1545–BB23; 1545–BC07; 1545–BH48 2. On page 65642, in the preamble,
The final regulations (TD 9741) that first column, first sentence of the third
are the subject of this correction are General Allocation and Accounting full paragraph, under paragraph heading
under section 141 of the Internal Regulations Under Section 141; ‘‘Nonqualified Bonds,’’ the language
Remedial Actions for Tax-Exempt ‘‘Commenters generally agreed with the
Revenue Code.
Bonds; Correction proposed change that allows any bonds
Need for Correction of any issue to be treated as the’’ is
AGENCY: Internal Revenue Service (IRS),
As published, the final regulations Treasury. corrected to read ‘‘Commenters
(TD 9741) contains an error that may ACTION: Final regulations; correction. generally agreed with the proposed
prove to be misleading and is in need change that allows any bonds of an
SUMMARY: This document contains issue to be treated as the’’.
of clarification.
corrections to final regulations (TD
Martin V. Franks,
List of Subjects in 26 CFR Part 1 9741) that were published in the
Chief, Publications and Regulations Branch,
Federal Register on Tuesday, October
Income taxes, Reporting and Legal Processing Division, Associate Chief
27, 2015 (80 FR 65637). The final Counsel (Procedure and Administration).
recordkeeping requirements. regulations on allocation and
[FR Doc. 2015–30321 Filed 11–27–15; 8:45 am]
Correction of Publication accounting, and certain remedial
BILLING CODE 4830–01–P
actions, for purposes of the private
Accordingly, 26 CFR part 1 is activity bond restrictions under section
corrected by making the following 141of the Internal Revenue Code that
correcting amendment: apply to tax-exempt bonds issued by DEPARTMENT OF DEFENSE
State and local governments.
PART 1—INCOME TAXES Office of the Secretary
DATES: This correction is effective
November 30, 2015 and applicable 32 CFR Part 88
■ Paragraph 1. The authority citation October 27, 2015.
for part 1 continues to read in part as FOR FURTHER INFORMATION CONTACT: [Docket ID: DOD–2013–OS–0236]
follows: Johanna Som de Cerff or Zoran
RIN 0790–AJ17
Authority: 26 U.S.C. 7805 * * * Stojanovic at (202) 317–6980 (not a toll-
free number). Transition Assistance Program (TAP)
■ Par. 2. Section 1.141–15 is amended SUPPLEMENTARY INFORMATION: for Military Personnel
by revising paragraph (l)(1) to read as
follows: Background AGENCY: Under Secretary of Defense for
The final regulations (TD 9741) that Personnel and Readiness, DoD.
§ 1.41–15 Effective/applicability dates. are the subject of this correction are ACTION: Interim final rule.
* * * * * under sections 141 of the Internal
Revenue Code. SUMMARY: This rule establishes policy,
(l) * * * (1) In general. Except as
assigns responsibilities, and prescribes
otherwise provided in this section, Need for Correction procedures for administration of the
§§ 1.141–1(e), 1.141–3(g)(2)(v), 1.141–6, DoD Transition Assistance Program
As published, the final regulations
1.141–13(d), and 1.145–2(b)(4), (b)(5), (TAP). The goal of TAP is to prepare all
(TD 9741) contain errors that may prove
and (c)(2) apply to bonds that are sold to be misleading and are in need of eligible members of the Military
on or after January 25, 2016, and to clarification. Services for a transition to civilian life,
which the 1997 regulations (as defined including preparing them to meet Career
in paragraph (b)(1) of this section) Correction of Publication Readiness Standards (CRS). The TAP
apply. Accordingly, the final regulations (TD provides information and training to
* * * * * 9741), that are subject to FR Doc. 2015– ensure Service members leaving Active
27328, are corrected as follows: Duty and eligible Reserve Component
Martin V. Franks, 1. On page 65641, in the preamble, Service members being released from
Chief, Publications and Regulations Branch, third column, the second and third active duty are prepared for their next
Legal Processing Division, Associate Chief sentences of the first full paragraph, step in life whether pursuing additional
Counsel (Procedure and Administration). under paragraph heading ‘‘Anticipatory education, finding a job in the public or
[FR Doc. 2015–30322 Filed 11–27–15; 8:45 am] Redemptions, ’’the language ‘‘This private sector, starting their own
BILLING CODE 4830–01–P allows targeting of funds other than tax- business or other form of self-
exempt bond proceeds to finance employment, or returning to school or
jstallworth on DSK7TPTVN1PROD with RULES

portions of projects that are expected to an existing job. Service members receive
be used for private business use in the training to meet CRS through the
future. The intent of this proposed rule Transition GPS (Goals, Plans, Success)
is to encourage retirement of tax-exempt curricula, including a core curricula and
bonds before the occurrence of individual tracks focused on Accessing
nonqualified use.’’ is corrected to read Higher Education, Career Technical
‘‘This would have allowed targeting of Training, and Entrepreneurship.

VerDate Sep<11>2014 15:17 Nov 27, 2015 Jkt 238001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\30NOR1.SGM 30NOR1

Document Created: 2018-03-01 11:12:51
Document Modified: 2018-03-01 11:12:51

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Rules and Regulations
Action		Final regulations; correction.
Dates		This correction is effective November 30, 2015 and applicable October 27, 2015.
Contact		Johanna Som de Cerff or Zoran Stojanovic at (202) 317-6980 (not a toll-free number).
FR Citation		80 FR 74678
RIN Number		1545-BB23, 1545-BC07 and 1545-BH48

80 FR 74678 - General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction

DEPARTMENT OF THE TREASURYInternal Revenue Service

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

DEPARTMENT OF THE TREASURY
Internal Revenue Service