{"abstract":"This document contains final regulations on the arbitrage and private activity restrictions applicable to tax-exempt bonds issued by State and local governments. These regulations affect issuers of tax- exempt bonds and provide guidance on the definitions of investment-type property and private loan to help issuers comply with the arbitrage and private activity restrictions.","action":"Final regulations.","agencies":[{"raw_name":"DEPARTMENT OF THE TREASURY","name":"Treasury Department","id":497,"url":"https://www.federalregister.gov/agencies/treasury-department","json_url":"https://www.federalregister.gov/api/v1/agencies/497","parent_id":null,"slug":"treasury-department"},{"raw_name":"Internal Revenue Service","name":"Internal Revenue Service","id":254,"url":"https://www.federalregister.gov/agencies/internal-revenue-service","json_url":"https://www.federalregister.gov/api/v1/agencies/254","parent_id":497,"slug":"internal-revenue-service"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2003/08/04/03-19644.html","cfr_references":[{"chapter":null,"citation_url":null,"part":1,"title":26}],"citation":"68 FR 45772","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Date: These regulations are effective October 3, 2003.","disposition_notes":null,"docket_ids":["TD 9085"],"dockets":[],"document_number":"03-19644","effective_on":"2003-10-03","end_page":45777,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2003/08/04/03-19644.xml","html_url":"https://www.federalregister.gov/documents/2003/08/04/03-19644/arbitrage-and-private-activity-restrictions-applicable-to-tax-exempt-bonds-issued-by-state-and-local","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/03-19644?publication_date=2003-08-04","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2003-08-04/03-19644/mods.xml","not_received_for_publication":null,"page_length":6,"page_views":{"count":166,"last_updated":"2026-08-26 04:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2003-08-04/pdf/03-19644.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2003-08-04","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2003/08/04/03-19644.txt","regulation_id_number_info":{"1545-AY12":{"issue":"200304","html_url":"https://www.federalregister.gov/regulations/1545-AY12/investment-type-property-prepayment-","title":"Investment Type Property (Prepayment)","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=200304&RIN=1545-AY12&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-AY12"],"regulations_dot_gov_info":{},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":45772,"subtype":null,"title":"Arbitrage and Private Activity Restrictions Applicable to Tax-exempt Bonds Issued by State and Local Governments; Investment-type Property (prepayment); Private Loan (prepayment)","toc_doc":"Tax-exempt bonds issued by State and local governments; arbitrage and private activity restrictions; investment-type property and private loan (prepayment)","toc_subject":"Income taxes:","topics":["Income taxes","Reporting and recordkeeping requirements"],"type":"Rule","volume":68}