97-19815. Arbitrage Restrictions on Tax-Exempt Bonds; Correction

[Federal Register Volume 62, Number 144 (Monday, July 28, 1997)]
[Rules and Regulations]
[Page 40270]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19815]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8718]
RIN 1545-AS49


Arbitrage Restrictions on Tax-Exempt Bonds; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

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SUMMARY: This document contains corrections to final regulations (TD 
8718) which were published in the Federal Register on Friday, May 9, 
1997 (62 FR 25502). The final regulations relate to arbitrage and 
related restrictions applicable to tax-exempt bonds issued by State and 
local governments.

DATES: This correction is effective May 9, 1997.

FOR FURTHER INFORMATION CONTACT: David White, [phone] (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations that are the subject of these corrections are 
under section 148 of the Internal Revenue Code.

Need for Correction

    As published, the final regulations (TD 8718) contain errors that 
may prove to be misleading and are in need of clarification.

Correction of Publication

    Accordingly, the publication of final regulations (TD 8718) which 
are the subject of FR Doc. 97-12062 is corrected as follows:
    1. On page 25505, column 3, in the preamble, under the paragraph 
heading ``F. Effective Dates'', line 2, the language ``effective for 
bonds issued on or after'' is corrected to read ``effective for bonds 
sold on or after''.
    2. On page 25505, column 3, in the preamble, under the paragraph 
heading ``F. Effective Dates'', the last line, the language ``issued 
before July 8, 1997.'' is corrected to read ``sold before July 8, 
1997.''.
Cynthia E. Grigsby,
Chief, Regulations Unit, Assistant Chief Counsel (Corporate).
[FR Doc. 97-19815 Filed 7-25-97; 8:45 am]
BILLING CODE 4830-01-U