Tribal Economic Development Bonds (I.R.C. § 7871)

Volume Cap:

Notice 2015-83 modified Notice 2012-48 regarding the process for allocation of the available amount of national bond volume limitation authority for tax-exempt tribal economic development bonds under I.R.C. § 7871(f).  The notice provides a special rule for bonds issued under a “draw-down” loan structure in which the lender advances funds for the loan on different dates.  The notice allows additional time to use allocated volume cap for issuance of draw-down bonds if the issuer meets certain requirements.