Office of the Assistant Secretary for HousingFederal Housing Commissioner; Regulatory Reinvention; Tax Exemption of Obligations of Public Housing Agencies and Related Amendments

This final rule amends HUD's regulations governing the tax exemption of obligations of public housing agencies. In an effort to implement the President's regulatory reform initiative, this rule will streamline these regulations by eliminating provisions that are redundant of statutes or otherwise unnecessary. Further, on April 20, 1995 (60 FR 19695), HUD published a rule proposing to amend these regulations to codify the guidelines which have governed Section 8 bond refundings. This rule finalizes the policies and procedures set forth in the April 20, 1995 proposed rule, and discusses the issues raised by public comments submitted on the proposed rule. The rule also makes a clarifying amendment to the existing regulations.