General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction, 74678 [2015-30321]

Download as PDF 74678 Federal Register / Vol. 80, No. 229 / Monday, November 30, 2015 / Rules and Regulations FOR FURTHER INFORMATION CONTACT: DEPARTMENT OF THE TREASURY Johanna Som de Cerff or Zoran Stojanovic at (202) 317–6980 (not a tollfree number). Internal Revenue Service SUPPLEMENTARY INFORMATION: 26 CFR Part 1 [TD 9741] Background RIN 1545–BB23; 1545–BC07; 1545–BH48 The final regulations (TD 9741) that are the subject of this correction are under section 141 of the Internal Revenue Code. General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction Need for Correction Internal Revenue Service (IRS), Treasury. ACTION: Final regulations; correction. AGENCY: As published, the final regulations (TD 9741) contains an error that may prove to be misleading and is in need of clarification. 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 tollfree number). SUPPLEMENTARY INFORMATION: SUMMARY: List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment: PART 1—INCOME TAXES Paragraph 1. The authority citation for part 1 continues to read in part as follows: ■ Authority: 26 U.S.C. 7805 * * * Par. 2. Section 1.141–15 is amended by revising paragraph (l)(1) to read as follows: ■ § 1.41–15 Effective/applicability dates. * * * * (l) * * * (1) In general. Except as otherwise provided in this section, §§ 1.141–1(e), 1.141–3(g)(2)(v), 1.141–6, 1.141–13(d), and 1.145–2(b)(4), (b)(5), and (c)(2) apply to bonds that are sold on or after January 25, 2016, and to which the 1997 regulations (as defined in paragraph (b)(1) of this section) apply. * * * * * Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). jstallworth on DSK7TPTVN1PROD with RULES BILLING CODE 4830–01–P VerDate Sep<11>2014 15:17 Nov 27, 2015 Jkt 238001 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 DEPARTMENT OF DEFENSE Office of the Secretary 32 CFR Part 88 [Docket ID: DOD–2013–OS–0236] RIN 0790–AJ17 Transition Assistance Program (TAP) for Military Personnel Background * [FR Doc. 2015–30322 Filed 11–27–15; 8:45 am] 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’’. AGENCY: The final regulations (TD 9741) that are the subject of this correction are under sections 141 of the Internal Revenue Code. SUMMARY: 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 taxexempt 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 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 Under Secretary of Defense for Personnel and Readiness, DoD. ACTION: Interim final rule. This rule establishes policy, assigns responsibilities, and prescribes procedures for administration of the DoD Transition Assistance Program (TAP). The goal of TAP is to prepare all eligible members of the Military Services for a transition to civilian life, including preparing them to meet Career Readiness Standards (CRS). The TAP provides information and training to ensure Service members leaving Active Duty and eligible Reserve Component Service members being released from active duty are prepared for their next step in life whether pursuing additional education, finding a job in the public or private sector, starting their own business or other form of selfemployment, or returning to school or an existing job. Service members receive training to meet CRS through the Transition GPS (Goals, Plans, Success) curricula, including a core curricula and individual tracks focused on Accessing Higher Education, Career Technical Training, and Entrepreneurship. E:\FR\FM\30NOR1.SGM 30NOR1

Agencies

[Federal Register Volume 80, Number 229 (Monday, November 30, 2015)]
[Rules and Regulations]
[Page 74678]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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.

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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