The IRS released Revenue Procedure 2018-26, 2018-18 IRB, which provides certain remedial actions that issuers of state and local tax-exempt bonds and other tax-advantaged bonds may take to preserve the tax-advantaged status of these bonds when nonqualified uses of the bond proceeds occur. Nonqualified use means a failure to spend proceeds of tax-advantaged bonds within any required expenditure period specified in the applicable Internal Revenue Code section and any use of expended proceeds of tax-advantaged bonds for a purpose other than a qualified use (i.e., a use required or permitted by the applicable Internal Revenue Code section).