CHICAGO -- The Treasury Department and Internal Revenue Service may rethink and re-propose controversial political subdivision rules, but will wait until next year to see what the next administration wants to do with them, a tax regulator told lawyers meeting here.

Speaking on panels at the National Association of Bond Lawyers' Bond Attorneys' Workshop here, Treasury associate tax legislative counsel John Cross noted that the rules, which were proposed in February, received more than 100 public comments from groups and individuals who opposed them.

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