The National Association of Bond Lawyers (NABL) recently advocated for the extension of certain temporary changes to Internal Revenue Code section 265 made by the American Recovery and Reinvestment Act (ARRA). The ARRA changes benefited smaller issuers of government bonds and section 501(c)(3) exempt organization borrowers of tax-exempt bond proceeds, which entities would otherwise have to draw upon taxable bank loans.
See also "NABL Advocates Extending Temporary Changes to Rules for Expensing Tax-Exempt Income," 2010 TNT 24-51, February 3, 2010.
Posted by Jenny Robertson, Associate Editor, Wealth Strategies Journal.
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