INCOME TAX

Rev. Rul. 2015–24, page 687. Section 1274A—inflation adjusted numbers for 2016. This ruling provides the dollar amounts, increased by the 2016 inflation adjustments, for section 1274A of the Code. Revenue Ruling 2014–30 supplemented and superseded.

Notice 2015–78, page 690. This notice provides guidance regarding qualified student loan bonds under section 144(b) of the Internal Revenue Code (Code) to clarify certain requirements for tax-exempt bond financing for loan programs of general application approved by a State under section 144(b)(1)(B) (State Supplemental Loan programs). (Except as otherwise expressly provided, section references in this notice are to the Code. This notice addresses: (1) eligibility of borrowers of loans through State Supplemental Loan programs; (2) the application of the requirement under section 144(b)(3) that the student have a nexus to the State (student nexus requirement) for loans made to refinance student loans (refinancing loans); (3) the loan size limitation for State Supplemental Loans; and (4) the types of student loans that may be refinanced with a State Supplemental Loan.