Will IRS Unleash Power?

Duff, Susanna
April 2003
Bond Buyer;4/23/2003, Vol. 344 Issue 31620, p1
Trade Publication
The U.S. bond market is awaiting the outcome of requests by municipal power systems to the U.S. Internal Revenue Service (IRS) for adjustment of proposed regulations that governs debt financing for output facilities used by both municipal and private utilities. The American Public Power Association, the Large Public Power Council, and Santee Cooper, a major South Carolina municipal utility, have sent comments to the IRS asking that proposed regulations expected to be issued some time this year will grant them greater flexibility in financing so-called mixed-use facilities. However, allocation and accounting regulations, under which the mixed-use rules fall, are on the Treasury's current guidance plan, which ends June 30, 2003.


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