Priority Guidance Plan 2010-2011
The IRS announced the release of the 2010–2011 Priority Guidance Plan. The plan contains 310 projects that are priorities for allocation of the resources during the twelve-month period from July 2010 through June 2011, also addresses a variety of issues, including recent legislation, the current economic environment, and important international issues.
The joint Department of Treasury/Internal Revenue Service priority guidance plan for 2010-2011 contains the following items of interest to the tax-exempt bonds community:
- Guidance on Build America Bonds under §54AA as added by ARRA of 2009. See Notice 2010-81.
- Final regulations on solid wasted disposal facilities under §142. Proposed regulations were published on September 16, 2009.
- Final regulations on public approval requirements for private activity bonds under §147(f). Proposed regulations were published on September 9, 2008.
- Regulations on arbitrage investment restrictions under §148.
- Regulations on bond reissuance under §150. Notice 2008-41 was published on April 14, 2008 and was supplemented by Notice 2008-88 and Notice 2010-7.
- Final regulations under §1397E on Qualified Zone Academy Bonds. Proposed regulations were published on July 16, 2007. Published on 07/30/2010 in the Federal Register as TD 9495.
- Guidance on credit for qualified bonds allowed to an issuer under §6431 as added by ARRA of 2009 and amended by the HIRE Act of 2010.