26 Internal Revenue 2 2003-04-01 2003-04-01 false General arbitrage yield restriction rules. 1.148-2A Section 1.148-2A Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Regulations Applicable to Certain Bonds Sold Prior to July 8, 1997
§ 1.148-2A General arbitrage yield restriction rules.

(a) through (b)(2)(i) [Reserved]. For guidance see § 1.148-2.

(b)(2)(ii) Exceptions to certification requirement. An issuer is not required to make a certification for an issue under § 1.148-2(b)(2)(i) if—

(A) The issuer reasonably expects as of the issue date that there will be no unspent gross proceeds after the issue date, other than gross proceeds in a bona fide debt service fund (e.g., equipment lease financings in which the issuer purchases equipment in exchange for an installment payment note); or

(B) The issue price of the issue does not exceed $1,000,000.

[T.D. 8538, 59 FR 24042, May 10, 1994. Redesignated by T.D. 8718, 62 FR 25507, May 9, 1997]