SECTION 4. EFFECT ON OTHER

TIMING REQUIREMENTS

.01 In February, 2010, the IRS announced allocations in an aggregate amount of approximately $1 billion of volume cap in the second tranche of allocation (the “Second Allocation”) of authority to issue Tribal Economic Development Bonds. Section 7(f) of Notice 2009–51 provides that if bonds are not issued by December 31, 2011, for any or all of the allocation received by an Indian tribal government pursuant to the Second Allocation, then such allocation is treated as forfeited. This Announcement

November 22, 2010 753 2010–47 I.R.B.

personnel from the IRS and Treasury Department participated in its development. For further information regarding this Announcement, contact Debbie Cho at (714) 347–9431 (not a toll-free call).

does not modify any provisions relating to the forfeiture of allocations of volume cap received by Indian tribal governments pursuant to the Second Allocation.

.02 Tribal Economic Development Bonds may be issued as build America bonds (“Build America Bonds”) if additional eligibility requirements for Build America Bonds are met. Section 54AA(d)(1)(B) of the Code requires Build America Bonds to be issued before Jan

uary 1, 2011. This Announcement does not modify the statutory requirement that Build America Bonds be issued before January 1, 2011.