Today, the IRS and Treasury Department issued final regulations relating to allocation and accounting, and certain remedial actions, for purposes of the private activity bond restrictions under section 141 that apply to tax-exempt bonds issued by state and local governments.  The allocation and accounting rules are applied to measure the amount of private business use of the proceeds of a bond issuance, which generally is limited to 10% by the private activity bond restrictions.  The final regulations adopt 2002 and 2003 proposed regulations, with certain revisions made in response to comments from the public.