[Code of Federal Regulations]
[Title 26, Volume 2]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.103(n)-5T]

[Page 411-412]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.103(n)-5T  Certification of no consideration for allocation (temporary).

    Q-1: Who must certify that there was no consideration for an 
allocation?
    A-1: Section 103(n)(12)(A) provides that, with respect to any 
private activity bond allocated any portion of the State ceiling, the 
private activity bond will not be described under section 103(a) unless 
the public official, if any, responsible for such allocation 
(``responsible public official'') certifies under penalties of perjury 
that to the best of his knowledge the allocation of

[[Page 412]]

the State ceiling to that private activity bond was not made in 
consideration of any bribe, gift, gratuity, or direct or indirect 
contribution to any political campaign. With respect to any issue of 
private activity bonds, the responsible public official is the official 
or officer of the issuing authority that in fact is responsible for 
choosing which individual projects will be allocated a portion of the 
State ceiling. If a body of several individuals is responsible for such 
choices, any one member of such body qualifies as the responsible public 
official.
    Q-2: What is the penalty for willfully making an allocation in 
consideration of any bribe, gift, gratuity, or direct or indirect 
contribution to any political campaign?
    A-2: Section 103(n)(12)(B) provides that any person willfully making 
an allocation of any portion of the State ceiling in consideration of 
any bribe, gift, gratuity, or direct or indirect contribution to any 
political campaign will be subject to criminal penalty as though the 
allocation were a willful attempt to evade tax imposed by the Internal 
Revenue Code.

(Secs. 103(n) and 7805 of the Internal Revenue Code of 1954 (98 Stat. 
916, 26 U.S.C.103(n); 68A Stat. 917, 26 U.S.C. 7805))

[T.D. 7981, 49 FR 39326, Oct. 5, 1984]