SECTION 2. EXTENSION OF

ADMINISTRATIVE DEADLINE TO ISSUE BONDS

.01 Except as otherwise provided in this Announcement, Indian tribal governments that received an allocation of volume cap from the First Allocation will receive an automatic extension of time of six months from December 31, 2010, to June 30, 2011, to issue Tribal Economic Development Bonds pursuant to those allocations. This extension does not apply to an Indian tribal government that has notified or will notify the IRS that it does not intend to use its allocation of volume cap from the First Allocation to issue Tribal Economic Development Bonds. In those cases, the allocation has been, or will be, forfeited as of the date of the notification. The extension described in this Announcement does not change that forfeiture.

.02 Additionally, Indian tribal governments that received an allocation of volume cap from the First Allocation may

submit a written request for an additional extension of time of six months from June 30, 2011, to December 31, 2011, to issue Tribal Economic Development Bonds pursuant to those allocations. Indian tribal governments must submit requests for additional extensions to the IRS by March 31, 2011. A request for an additional extension must include: (1) a copy of the allocation letter from the IRS for the allocation to which the request relates; and (2) statements from an official of the Indian tribal government duly authorized to execute legal documents on behalf of the Indian tribal government in making the request, made under penalty of perjury, including (a) a statement explaining the reason for the extension of time, (b) a statement that the Indian tribal government reasonably expects to issue Tribal Economic Development Bonds pursuant to such allocation on or before December 31, 2011, to finance the project described in the Indian tribal government’s original application (“Application”), and (c) a statement that such official has knowledge of the relevant facts and circumstances relating to the request and the Application, has examined the request and the Application, and that the information contained in the request and the Application is true, correct, and complete.

.03 A request for an additional extension must be submitted by hard copy in duplicate accompanied by a copy of the request in electronic format on compact disc sent by mail to the Internal Revenue Service (IRS), SE:T:GE:TEB:CPM, Attention: Mark Helfer, 1122 Town & Country Commons, Chesterfield, Missouri 63017.

.04 A request for an additional extension should not include an inquiry relating to deviations from information submitted in the Application under Section 8 of Notice 2009–51. Section 8 of Notice 2009–51 provides that an allocation of Tribal Economic Development Bond volume cap is valid notwithstanding insubstantial deviations from the information submitted in the Application. Section 8 of Notice 2009–51 also describes criteria applicable to determinations of whether a deviation with respect to the information submitted in the

Application is insubstantial, as well as procedures to apply for approval of specific insubstantial deviations.

.05 For requests submitted in compliance with the requirements described in this Announcement for additional extensions from June 30, 2011, to December 31, 2011, the IRS expects to confirm the extensions by May 31, 2011. Indian tribal governments that receive additional extensions will receive a total extension of one year from December 31, 2010, to December 31, 2011, to issue Tribal Economic Development Bonds pursuant to volume cap received in the First Allocation.