Enterprise Zone Facility Bonds

May 23, 2013

Issuance of Enterprise Zone Facility Bonds

May Enterprise Zone Facility Bonds (I.R.C. 1394) still be issued as new money bonds?  Yes, so long as there is a valid enterprise community or empowerment zone.  See I.R.C. 1391, as amended in 2013 by H.R. 8, regarding term of such zones.

Refunding of Enterprise Zone Facility Bonds

May Enterprise Zone Facility Bonds be refunded? Yes, see Treas. Reg. 1.1394-1(o).

Empowerment Zones

The IRS has issued guidance in Notice 2013-38 on how a state or local government may amend the nomination of an empowerment zone to provide for a new termination date.

References

See http://www.rurdev.usda.gov/rbs/ezec/Invest/taxes.html for helpful (but somewhat outdated) background information.

Notiz 20130101

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