1.141-15T (a) through (e) [Reserved].
For guidance see section 1.141-15.
1.141-15T (f) Effective dates for certain regulations relating to output facilities --
(1) General rule.
Except as otherwise provided in this section, sections 1.141-7T and 1.141-8T apply to bonds issued on or after February 23, 1998 that are subject to section 1301 of the Tax Reform Act of 1986 (100 Stat. 2602).
(2) Transition rule for requirements contracts.
Section 1.141- 7T(c)(4) applies to output contracts entered into on or after February 23, 1998. An output contract is treated as entered into on or after that date if its term is extended, the parties to the contract change, or other material terms are amended on or after that date.
1.141-15T (g) Refunding bonds in general.
Except as otherwise provided in paragraph (h) or (i) of this section, sections 1.141-7T and 1.141-8T do not apply to bonds issued on or after February 23, 1998, to refund a bond to which the sections 1.141-7T and 1.141-8T do not apply unless --
(1) The weighted average maturity of the refunding bonds is longer than --
(i) The weighted average maturity of the refunded bonds; or
(ii) In the case of a short-term financings (such as a bond anticipation note), 120 percent of the weighted average reasonably expected economic life of the facilities financed; or
(2) A principal purpose of the issuance of the refunding bonds is to make one or more new conduit loans.
1.141-15T (h) Permissive retroactive application.
Except as provided in section 1.141-15 (d) or (e) or paragraph (i) of this section, sections 1.141-1 through 1.141-6, 1.141-7T through 1.141-8T, 1.141-9 through 1.141-14, 1.145-1 through 1.145-2, 1.150-1(a)(3) and the definition of bond documents contained in section 1.150-1(b) may be applied in whole, but not in part to --
(1) Bonds that are outstanding on May 16, 1997, and subject to section 141; or
(2) Refunding bonds issued on or after May 16, 1997.
(i) Permissive retroactive application of certain regulations pertaining to output contracts.
Section 1.141- 7T(f)(4) and (5) may be applied to any bonds issued before February 23, 1998.
[T.D. 8757, 63 FR 3256-3266, Jan. 22, 1998.]