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Information for the Tax Exempt Bond Community Affected by Hurricane Katrina

Gulf Opportunity Zone Act of 2005-P.L. 109-135
The Gulf Opportunity Zone Act of 2005, signed into law as Public Law 109-135 on December 21, 2005, provides tax benefits for the Gulf Opportunity Zone and certain areas affected by Hurricanes Rita and Wilma. The “GO Zone Act” includes a number of provisions of particular interest to bond issuers.

Katrina Emergency Tax Relief Act (PL 109-73)
The Act waives certain requirements applicable to qualified mortgage bonds under section 143 of the Code for qualified residences by treating such residences as targeted area residences and increases the permitted amount of a qualified home improvement loan with respect to affected residences.

Relief Provided for Tax-Exempt Bond Issuers Affected by Katrina (Announcement 2005-69)
The IRS has announced that it will provide additional time for affected issuers to file forms required under section 149(e) of the Code and arbitrage rebate payments required under section 148(f). In addition, the Service will consider requests for other appropriate types of relief.

Extra Time Granted for Tax-Exempt Bond Issuers Affected By Katrina
IR-2005-98, Sept. 8, 2005 — The IRS today announced that it will provide issuers of tax exempt bonds affected by Hurricane Katrina with additional time to file certain information returns and arbitrage rebate returns.

Katrina News Releases & Legal Guidance
See Katrina News Releases & Legal Guidance for a complete list of all Hurricane Katrina news releases and technical guidance describing the specifics of available relief.

Tax Relief in Disaster Situations
Find information on the most recent tax relief provisions for taxpayers affected by disaster situations.

Page Last Reviewed or Updated: 30-Apr-2015