SECTION 6. REQUEST FOR

COMMENTS

The IRS and the Treasury Department solicit public comment on all aspects of the direct payment procedures for Build America Bonds, including, without limitation, comments regarding efficient methods to make such direct payments, workability and ease of usage for state and local governments, ongoing compliance safeguards, and the tax procedural framework for these payments. The IRS and the Treasury Department solicit specific public comment on the following aspects of these direct payment procedures: (1) whether consideration should be given to employing an electronic platform to make these payments similar to that used for SLGs and what particular features would be important to making such a platform workable; (2) whether consideration should be given to a different frequency or approach to the payment of variable rate bonds; (3) whether consideration should be given to making these direct payments solely to issuers, rather than including third parties designated by issuers, to simplify the process; and (4) whether consideration should be given to imposing uniform interest payment dates ( e.g., quarterly on January 1, April 1, July 1, and October 1) to improve the efficiency of the program.

Comments should be submitted in writing and can be emailed to notice.comments@irscounsel.treas.gov (include “Notice 2009–26” in the subject line) or mailed to Office of Associate Chief Counsel (Financial Institutions and Products), Re: Notice 2009–26, CC:FIP:B5, Room 3547, 1111 Constitution Avenue, NW, Washington DC 20224. Comments that are submitted will be made available to the public.