News / Public Finance Counsel You Know And Trust
New Proposed Regulations: Public Approval of Tax-Exempt Private Activity Bonds
Historically, the governmental unit that approves the issuance of private activity bonds must first hold a public hearing after reasonable public notice, typically by newspaper publication. The proposed regulations continue to require public notice 14 days in advance of the public hearing but modernize the existing regulations by expanding the permitted methods of providing reasonable public notice to include postings on the approving governmental unit’s public website and alternative methods permitted under general state law for public notices for a governmental unit’s public hearings.
Issuers may apply the proposed regulations beginning today even though the proposed regulations have not yet been approved.
A copy of the proposed regulations can be found here.
Posted: Sep 28, 2017