School District Considerations in Selling Unused Buildings Originally Financed with Tax-Exempt Bonds

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School districts may issue tax-exempt bonds to finance facilities. These bonds will remain tax-exempt as long as certain federal tax requirements are met. The sale of bond-financed facilities—a deliberate action—may cause the bonds to become taxable. This session will discuss remedial actions that may be taken to preserve the tax-exempt status of the bonds.

Learning Objectives

1. Attendees will learn what constitutes a deliberate action under the federal tax rules and when a deliberate action occurs.
2. Attendees will learn the types of remedial actions that may be taken to resolve the deliberate action and preserve the tax-exempt status of bonds.
3. Attendees will learn the basic conditions that a school district must meet to qualify to take a remedial action.
4. Attendees will learn the specific considerations in selling bond-financed buildings.