Overview
Treasury, IRS Issue Proposed Bond Arbitrage Regulations: Today, the IRS and Treasury released proposed regulations (REG-106977-18) regarding the section 148 arbitrage investment restrictions applicable to tax-exempt and other tax-advantaged bonds. The proposed regulations would clarify the definition of investment property by providing an exception to the definition of investment-type property for capital projects that are used in the furtherance of the public purposes of the bonds.