[15318]
October 31, 2002
TO: TAX COMMITTEE No. 34-02
RE: GUIDANCE ON TAX-EXEMPT BOND PARTNERSHIPS
As you know, 1 the Service has issued guidance, Revenue Procedure 2002-68, that
modifies and supercedes the guidance in Revenue Procedure 2002-16 pursuant to which a
regulated investment company (“RIC”) may take into account each month its allocable share of
tax-exempt income from certain synthetic variable rate tax-exempt securities. The Service has
requested comments on the guidance by December 6, 2002. A conference call has been
scheduled for interested tax committee members and others to discuss the guidance and
potential Institute comments. The call will be Monday, November 4th at 3 PM EST.
If you would like to participate in the call, please complete the attached response form
and fax it to Ezella Wynn by Monday, November 4th at noon.
Catherine Barré
Assistant Counsel
Attachment (in .pdf format)
1 See, Institute Memorandum to Tax Committee No. 30-02, dated October 9, 2002.