# Prop. Treas. Reg. § 1.148-6: General allocation and accounting rules.

Proposed regulation, not in force. REG-117298-21, 91 FR 12118, published 2026-03-12 <https://www.federalregister.gov/documents/2026/03/12/2026-04798/guidance-on-tax-exempt-refunding-bonds>. Interprets 26 U.S.C. § 148.

Par. 7. Section 1.148-6 is amended by adding a sentence to the end of paragraph (d)(1)(ii) to read as follows:

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(d) * * *

(1) * * *

(ii) * * * To allocate funds from a specific source to an expenditure, those funds must be held by or on behalf of the issuer on the date of the cash outlay.

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