Guidance on Tax-Exempt Refunding Bonds; Hearing

What it does

This document contains proposed regulations that would update certain arbitrage rules and definitions applicable to tax-exempt and other tax-advantaged bonds by clarifying the time and manner for requesting refunds of overpayment of rebate to the United States, the special transition rule for transferred proceeds, the limitation on allocations to expenditures, and the IRS address for filing defeasance notices. These proposed regulations would also revise the provision addressing certain perpetual State guarantee funds, the definition of tax-exempt bond, and the definition of refunding issue. The proposed regulations would affect issuers of tax-advantaged bonds.

The Internal Revenue Service's summary, as published in the Federal Register.

What it would change

1 part of Title 26 of the Code of Federal Regulations:

26 CFR 1

Before this

1 earlier Federal Register document under regulation identifier 1545-BQ20 since Jan. 1, 2025.

• March 12, 2026 Notice of proposed rulemaking. Guidance on Tax-Exempt Refunding Bonds

What happens next and when

The hearing on these proposed regulations has been scheduled for Thursday, July 30, 2026, at 10:00 a.m. Eastern Time (ET). The IRS must receive speakers' outlines of the topics to be discussed at the hearing by June 15, 2026. If no outlines are received by June 15, 2026, the hearing will be cancelled.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Docket IRS-2026-0331 on Regulations.gov
• Title 26 on eCFR

The record as published

Source: the Federal Register (public domain). The document in the Federal Register