Revenue Ruling 2026-04: Section 149.— Bonds Must Be Registered To Be Tax Exempt; Other Requirements

Revenue Ruling 2026-04 holds that the private activity bond rules do not apply to certain tax-exempt bonds issued by the Railroad Corporation to finance the improvement, construction, or acquisition of certain property described therein. The revenue ruling also states that other rules applicable to tax-exempt bonds do apply to such bonds.

WILL BE IN IRB: 2026-6 DATED: February 2, 2026

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