Tax-Exempt Advance Refunding Bonds: History and Legislative Updates
By EsqSocial Corporation 02/04/21
Prior to January 1, 2018, Section 149(d) of the Internal Revenue Code (26 U.S.C. § 149) and the accompanying Treasury Regulations allowed the issuance of tax-exempt advance refunding bonds. According to that section, a bond is “treated as issued to advance refund another bond if it is issued more than 90 days before the redemption of the refunded bond.”......
By: Butler Snow LLP