SECTION 16. TAX-EXEMPT — Internal Revenue Bulletin 2001-47

	Statute or Regulation	Act Postponed
3.	Sec. 142(f)(4) and Treas. Reg. § 1.142(f) (4)–1	A person engaged in the local furnishing of electric energy or gas (a local furnisher) that uses facilities financed with exempt facility bonds under section 142(a)(8) and expands its service area in a manner inconsistent with the requirements of sections 142(a)(8) and 142(f), may make an election to ensure that those bonds will continue to be treated as exempt facility bonds. The election must be filed with the IRS on or before 90 days after the date of the service area expansion that causes the bonds to cease to meet the applicable requirements.
4.	Sec. 146(f) and Notice 89–12	If an issuing authority’s volume cap for any calendar year exceeds the aggregate amount of tax–exempt private activity bonds issued during such calendar year by such authority, such authority may elect to treat all (or any portion) of such excess as a carryforward for 1 or more carryforward purposes. Such election must be filed by the earlier of (1) February 15 of the calendar year following the year in which the excess amount arises, or (2) the date of issue of bonds issued pursuant to the carryforward election.
5.	Sec. 148(f)(3) and Treas. Reg. § 1.148-3(g)	An issuer of a tax-exempt municipal obligation must make any required rebate payment no later than 60 days after the computation date to which the payment relates. A rebate pay- ment is paid when it is filed with the IRS at the place or places designated by the Commis- sioner. A payment must be accompanied by the form provided by the Commissioner for this purpose.
6.	Treas. Reg. § 1.148-5(c)	An issuer of a tax-exempt municipal obligation must make a yield reduction payment on or before the date of required rebate installment payments as described in Treas. Reg. § 1.148- 3(f), (g) and (h).
7.	Sec. 148(f)(4)(C) (xvi) and Treas. Reg. § 1.148- 7(k)(1)	As issuer of a tax-exempt municipal obligation that elects to pay certain penalties in lieu of rebate must make any required penalty payments not later than 90 days after the period to which the penalty relates.
8.	Sec. 149(e)	An issuer of a tax-exempt municipal obligation must submit to the Secretary a statement providing certain information regarding the municipal obligation not later than the 15th day of the 2nd calendar month after the close of the calendar quarter in which the municipal obligation is issued.

SECTION 17. INQUIRIES Notice.Comments@m1.irscounsel.treas.gov. the Office of Associate Chief Counsel,

Procedure and Administration (Admin If you wish to recommend that other SECTION 18. EFFECTIVE DATE istrative Provisions and Judicial Practice acts qualify for postponement, please Division). For further information write to the Office of Associate Chief This revenue procedure is effective regarding this revenue procedure, conCounsel, Procedure and Administration for acts which may be performed on or tact Ms. Mendelsohn at (202) 622-4940 (Administrative Provisions and Judicial after September 11, 2001. (not a toll free call). Practice Division), CC:PA:APJP:B2, 1111 Constitution Avenue, NW, Wash- SECTION 19. DRAFTING INFORington, DC 20224. Please mark MATION “7508A List” on the envelope. In the The principal author of this revenue alternative, e-mail your comments to: procedure is Marcy W. Mendelsohn of

Notice.Comments@m1.irscounsel.treas.gov.