000			01530nab a2200217 c 4500
999			_c148404 _d148404
003			ES-MaIEF
005			20231031113334.0
007			ta
008			231030t2023 us ||||| |||| 00| 00eng d
040			_aES-MaIEF _bspa _cES-MaIEF
100			_959783 _aHutchinson, John W.
245		0	_aIRS rules on long-term tax-exempt financing for extraordinary working capital expenditures in a natural disaster _c John Hutchinson
500			_aResumen.
520			_aFederal tax law makes it difficult to issue long-term debt that is tax exempt under Code Section 103 where the debt will be used to pay a state or local government’s working capital expenditures. However, there are exceptions to these complex rules that can be met in certain circumstances to make it easier. For example, where the expenditures relate to extraordinary events for which a state or local government did not budget and where forcing the government to use short-term debt to finance those expenditures would be crippling, the applicable rules may allow interest on a long-term working capital borrowing to be tax exempt. The IRS recently issued a favorable private letter ruling allowing tax-exempt financing in such a situation, which this article discusses.
650			_aIMPUESTOS _947460
650		4	_aGASTO PUBLICO _944787
650		4	_aCATASTROFES NATURALES _933567
650		4	_aESTADOS UNIDOS _942888
773	0		_9170442 _oOP 235/2023/4 _tJournal of Taxation of Investments _w(IEF)51921 _x 0747-9115 _g v. 40, n. 4, Summer 2023, p. 71-87
942			_cART