IRS Urged To Revamp Safe Harbor Rules For Hospital Bonds

Law360, New York (July 2, 2013, 1:48 PM EDT) -- Rep. Jim McDermott, D-Wash., on Monday called on the Internal Revenue Service to update its tax exemption rules for bonds issued by health care facilities, saying the “outdated” rules had held providers back from using innovative new care models outlined in the Affordable Care Act.

Current IRS “safe harbor” provisions protecting the tax-exempt status of certain bonds issued by hospitals and other health care providers do not fully cover new health care models developed since the provisions were first enacted, according to McDermott. This limits the...
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