Attorneys: PILOT, Tribal Rulings Inconsistent

McConnell, Alison L.
August 2006
Bond Buyer;8/10/2006, Vol. 358 Issue 32442, p1
Trade Publication
The article focuses on the charges of several bond attorneys on the rulings issued by the U.S. Internal Revenue Service (IRS) concerning tax-exempt financing for two New York City baseball stadiums. The charges claimed that the private-letter rulings issued by the agency is inconsistent with the agency's position on Indian tribal bonds. In the rulings, IRS has proceeded over $1 billion in debt backed by payments in lieu of taxes.


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