# Regulations Governing United States Treasury Certificates of Indebtedness, Treasury Notes, and Treasury BondsState and Local Government Series
> **Fiscal Service** · Final rule. · Published 1996-10-28 · Effective 1996-10-28 · 61 FR 55690
## Document
- **Document number:** 96-27365
- **Category:** tax-irs
- **Sub-agency:** Fiscal Service
- **Federal Register citation:** 61 FR 55690
- **CFR reference:** 31 CFR 344
- **Publication date:** 1996-10-28
- **Effective date:** 1996-10-28
- **Treasury docket:** Department of the Treasury Circular, Public Debt Series No. 3-72
## Abstract

The Department of the Treasury hereby publishes a final rule governing United States Treasury Certificates of Indebtedness, Notes, and Bonds of the State and Local Government Series (SLGS). These securities are available for purchase by issuers of state and local government bonds described in Section 103 of the Internal Revenue Code for proceeds (or amounts treated as proceeds) which are subject to yield restrictions or arbitrage rebate requirements of the Income Tax regulations under sections 103, 148, 149 and 150 of the Internal Revenue Code (tax regulations). This final rule makes the SLGS securities program more flexible in a manner consistent with tax policy objectives.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1996/10/28/96-27365/regulations-governing-united-states-treasury-certificates-of-indebtedness-treasury-notes-and)
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