The Internal Revenue Service has released guidance for Midwestern and Gulf Coast states that wish to issue up to $17 billion of special tax-exempt private-activity bonds or tax-credit bonds authorized this year to help natural disaster recovery efforts.

In the 15-page notice released late Tuesday, the IRS detailed which counties in the Midwest affected by flooding and which Gulf Coast counties and Louisiana parishes affected by Hurricane Ike could issue special tax-exempt and tax-credit disaster bonds as part of their recovery efforts. The bonds must be issued before the beginning of 2013.

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