The National Association of Bond Lawyers is urging the Treasury Department and Internal Revenue Service to provide guidance ensuring that, if governments and nonprofit hospitals that use tax-exempt private-activity bonds to finance projects take certain steps to implement President Obama's health care reform law, their bonds will not become taxable.

NABL made the request in a letter, memo and exhibits sent on Monday to Vicky Tsilas, a Treasury associate tax legislative counsel, James Polfer, an IRS branch chief within the chief counsel's office of the financial institutions and products division, and Tim Jones, who works for Polfer. The letter is signed by NABL president, Scott Lilienthal, a partner at Hogan Lovells LLP.

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