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Tax Exempt Bonds - Phase 1 (Basic) Student Text

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Basic Tax Exempt Bond Training - Phase I
Student Guide preface and Table of Contents for Basic Tax Exempt Bond Training - Phase I.

Introduction to Tax-Exempt Bonds
An introduction to the municipal bond market. Discusses the various types of bonds, the parties to a bond transaction, explains maturity dates and interest rates and provides information about costs of issuance and bond documents.

Introduction to Federal Taxation of Municipal Bonds
An introduction to federal taxation of municipal bonds focusing on IRC section 103 and its relationship with sections 141-150.

IRC Section 149, Rules Applicable to All Tax Exempt Bonds
Discusses the various provisions of section 149 including registration requirements, reporting requirements, federal guarantees, current and advance refundings, and hedges.

Government and Private Activity Bonds
Discusses how to determine the type of activity being financed, the type of bond being issued and whether the issuer is qualified to issue tax exempt bonds. Provides an introduction to the private activity bond tests.

Exempt Facility Bonds
Defines and explains the requirements for all exempt facility bonds and identifies rules found in other sections that apply to such bonds.

IRC Section 143, Qualified Mortgage Bonds
An overview of the basic requirements related to qualified mortgage bonds.

IRC Section 144(a), Qualified Small Issue Bonds
An overview of the requirements related to qualified small issue bonds.

IRC Section 144(b), Qualified Student Loan Bonds & IRC Section 150(d), Qualified Scholarship Funding Bonds
Continues the discussion of qualified private activity bonds, focusing on qualified student loan and scholarship funding bonds.

IRC Section 145, Qualified 501(c)(3) Bonds
Completes the discussion of qualified private activity bonds by focusing on the special rules applicable to 501(c)(3) bonds.

IRC Section 146, Volume Cap
A discussion of the volume cap requirements applicable to private activity bonds.

Other Requirements Applicable to Certain Qualified Private Activity Bonds
A discussion of the rules set forth in section 147 which apply only to certain qualified private activity bonds.

Change in Use Rules
Discusses post-issuance events and how they can affect the tax exempt status of the bonds.

Arbitrage - Yield Restriction
Interest on an arbitrage bond is not excludable from income for federal income tax purposes. Provides an introduction to the statutory provisions and regulations governing arbitrage bonds.

Introduction to Rebate Concepts
An introduction to the rules designed to remove incentives for the issuance of arbitrage-motivated bonds.

Page Last Reviewed or Updated: 30-Apr-2015