{"abstract":"This document contains final regulations on the arbitrage and related restrictions applicable to tax-exempt bonds issued by State and local governments. Changes to the applicable law were made by the Tax Reform Act of 1986, the Technical and Miscellaneous Revenue Act of 1988, the Revenue Reconciliation Act of 1989, and the Revenue Reconciliation Act of 1990. These regulations affect issuers of tax- exempt bonds and provide guidance for complying with the arbitrage and related 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/1997/05/09/97-12062.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"1","title":26},{"chapter":null,"citation_url":null,"part":"602","title":26}],"citation":"62 FR 25502","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"These regulations are effective May 9, 1997.","disposition_notes":null,"docket_ids":["TD 8718"],"dockets":[],"document_number":"97-12062","effective_on":"1997-05-09","end_page":25514,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":null,"html_url":"https://www.federalregister.gov/documents/1997/05/09/97-12062/arbitrage-restrictions-on-tax-exempt-bonds","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/97-12062?publication_date=1997-05-09","mods_url":"https://www.govinfo.gov/metadata/granule/FR-1997-05-09/97-12062/mods.xml","not_received_for_publication":null,"page_length":13,"page_views":{"count":321,"last_updated":"2026-10-24 20:15:05 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-1997-05-09/pdf/97-12062.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"1997-05-09","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/1997/05/09/97-12062.txt","regulation_id_number_info":{"1545-AS49":{"issue":"199704","html_url":"https://www.federalregister.gov/regulations/1545-AS49/arbitrage-restriction-on-tax-exempt-bonds","title":"Arbitrage Restriction on Tax-Exempt Bonds","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=199704&RIN=1545-AS49&operation=OPERATION_EXPORT_XML","priority_category":"Substantive, Nonsignificant"}},"regulation_id_numbers":["1545-AS49"],"regulations_dot_gov_info":{},"regulations_dot_gov_url":null,"significant":false,"signing_date":null,"start_page":25502,"subtype":null,"title":"Arbitrage Restrictions on Tax-Exempt Bonds","toc_doc":null,"toc_subject":null,"topics":[],"type":"Rule","volume":62}