CFR > Title 26 - Internal Revenue > CHAPTER I—INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY > SUBCHAPTER A—INCOME TAX (Parts 1–19) > PART 1—INCOME TAXES > 1.148-2A—General arbitrage yield restriction rules.

1.148-2A—General arbitrage yield restriction rules.

(a) through (b)(2)(i) [Reserved]. For guidance see § 1.148-2.
(b) (2) An issuer is not required to make a certification for an issue under § 1.148-2(b)(2)(i) if—
(A) The issuer reasonably expects as of the issue date that there will be no unspent gross proceeds after the issue date, other than gross proceeds in a bona fide debt service fund (e.g., equipment lease financings in which the issuer purchases equipment in exchange for an installment payment note); or
(B) The issue price of the issue does not exceed $1,000,000.

Code of Federal Regulations

[T.D. 8538, 59 FR 24042, May 10, 1994. Redesignated by T.D. 8718, 62 FR 25507, May 9, 1997]