Tax Exempt Bonds Phase I Training Information


Lesson I – Overview of Phase I PDF
This lesson is an overview of the topics covered in Phase I.

Lesson 2 – Statutory Framework/Introduction to the Deskbook PDF
This lesson provides an overview of the principal Internal Revenue Code sections related to tax-advantaged bonds.

Lesson 3 – Valid Issuer/Valid Debt PDF
This lesson provides a look at the legal analysis used to determine whether an entity is a valid issuer of tax-advantaged bonds and whether the obligation of an issuer is a valid debt for the purpose of tax-advantage treatment.

Lesson 4 – Governmental Bonds PDF
This lesson explains how to distinguish a governmental bond from a private activity bond.

Lesson 5 – Arbitrage and Rebate PDF
Arbitrage generally refers to the profit from borrowing funds through a bond issuein the tax-exempt market and investing them in the taxable market. This lesson provides an introduction to the various concepts, statutory provisions, and regulations that restrict the earning of arbitrage on investments of proceeds of bonds.

Lesson 6 – Proceeds and Allocations PDF
This lesson discusses the applicable rules concerning the use and investment of the proceeds of tax-exempt bonds.

Lesson 7 – Remedial Actions/Change in Use Rules PDF
This lesson discusses post-issuance events and how they can affect the tax-exempt status of the bonds.

Lesson 8 – Section 149, Rules Applicable to All Tax-Exempt Bonds PDF
This lesson discusses all the provisions of Section 149. Both governmental and qualified private equity bonds are subject to these rules.

Lesson 9 – Section 150, Definitions and Special Rules PDF
This lesson contains definitions and various special rules contained in Section 150.

Lesson 10 – Build America Bonds PDF
This lesson identifies the general requirements and characteristics of all Build America Bonds.

Lesson 11 – Introduction to Qualified Private Activity Bonds PDF
This lesson defines qualified private activity bonds (bonds issued to finance private activities not authorized by Congress) and identifies the additional requirements that qualified 501(c)(3) bonds must meet.

Lesson 12 – Section 145, Qualified 501(c)(3) Bonds PDF
This lesson provides a detailed overview of Section 145 requirements and a general understanding of Exempt Organization law pertaining to 501(c)(3) organizations.

Lesson 13 – Section 265, Bank Qualified Bonds PDF
This lesson provides an overview of the requirements of qualified tax-exempt obligations, also known as bank qualified bonds.