Explanation of H.R. 2775 Relating to Additional Tax Simplification Jcx-9-91
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In our eReader you can find the full English version of the book. Read Explanation of H.R. 2775 Relating to Additional Tax Simplification Jcx-9-91 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Explanation of H.R. 2775 Relating to Additional Tax Simplification Jcx-9-91
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148 of the Code) Present Law Issuers of all tax-exempt bonds generally are subject to two sets of arbitrage restrictions on investment of their bond proceeds. The first set requires that tax-exempt bond proceeds not be invested at a yield materially higher (generally defined as 0.125 percentage points) than the bond yield. Exceptions are provided to this restriction for investments during any of several "temporary periods" pending use of the proceeds and, throughout the term of the issue, for p...roceeds invested as part of a reasonably required reserve or replacement fund or a "minor" portion of the issue proceeds .
Except for temporary periods and amounts held pending use to pay current debt service, present law also limits the amount of the proceeds of private activity bonds (other than qualified 501(c)(3) bonds) that may be invested at any time at materially higher yields during a bond year to 150 percent of the debt service for that bond year. This restriction affects primarily investments in reasonably required reserve or replacement funds.
What to read after Explanation of H.R. 2775 Relating to Additional Tax Simplification Jcx-9-91?
You can find similar books in the "Read Also" column, or choose other free books by United States. Congress. Joint Committee On Taxation to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
148 of the Code) Present Law Issuers of all tax-exempt bonds generally are subject to two sets of arbitrage restrictions on investment of their bond proceeds. The first set requires that tax-exempt bond proceeds not be invested at a yield materially higher (generally defined as 0.125 percentage points) than the bond yield. Exceptions are provided to this restriction for investments during any of several "temporary periods" pending use of the proceeds and, throughout the term of the issue, for p...roceeds invested as part of a reasonably required reserve or replacement fund or a "minor" portion of the issue proceeds .
Except for temporary periods and amounts held pending use to pay current debt service, present law also limits the amount of the proceeds of private activity bonds (other than qualified 501(c)(3) bonds) that may be invested at any time at materially higher yields during a bond year to 150 percent of the debt service for that bond year. This restriction affects primarily investments in reasonably required reserve or replacement funds.
What to read after Explanation of H.R. 2775 Relating to Additional Tax Simplification Jcx-9-91?
You can find similar books in the "Read Also" column, or choose other free books by United States. Congress. Joint Committee On Taxation to read onlineMoreLess
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