Abstract

http://ssrn.com/abstract=2360403
 


 



Municipal Bonds and Accountability to the General Electorate


Ellen P. Aprill


Loyola Law School Los Angeles

November 26, 2013

141 Tax Notes 547, November 2013
Loyola-LA Legal Studies Paper No. 2013-41

Abstract:     
A recent IRS technical advice memorandum denied tax-exempt status to bonds of a development district on the grounds that the district was not “inherently accountable, directly or indirectly, to a general electorate.” This short piece reviews applicable law and private letter rulings to argue that this position represents an unprecedented change in applicable standards. Such a change should be introduced as a proposed regulation with notice-and-comment.

Number of Pages in PDF File: 8

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Date posted: November 27, 2013  

Suggested Citation

Aprill, Ellen P., Municipal Bonds and Accountability to the General Electorate (November 26, 2013). 141 Tax Notes 547, November 2013; Loyola-LA Legal Studies Paper No. 2013-41. Available at SSRN: http://ssrn.com/abstract=2360403

Contact Information

Ellen P. Aprill (Contact Author)
Loyola Law School Los Angeles ( email )
919 Albany Street
Los Angeles, CA 90015-1211
United States
213-736-1157 (Phone)
213-380-3769 (Fax)
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