United States Code
USC most recently checked for updates: Sep 26, 2023
§ 7478.
Declaratory judgments relating to status of certain governmental obligations
(a)
Creation of remedy
In a case of actual controversy involving—
(1)
a determination by the Secretary whether interest on prospective obligations will be excludable from gross income under section 103(a), or
(2)
a failure by the Secretary to make a determination with respect to any matter referred to in paragraph (1),
upon the filing of an appropriate pleading, the Tax Court may make a declaration whether interest on such prospective obligations will be excludable from gross income under section 103(a). Any such declaration shall have the force and effect of a decision of the Tax Court and shall be reviewable as such.
(b)
Limitations
(1)
Petitioner
A pleading may be filed under this section only by the prospective issuer.
(2)
Exhaustion of administrative remedies
(3)
Time for bringing action
If the Secretary sends by certified or registered mail notice of his determination as described in subsection (a)(1) to the petitioner, no proceeding may be initiated under this section unless the pleading is filed before the 91st day after the date of such mailing.
(Added Pub. L. 95–600, title III, § 336(a), Nov. 6, 1978 , 92 Stat. 2841; amended Pub. L. 100–647, title I, § 1013(a)(42), Nov. 10, 1988 , 102 Stat. 3544.)
cite as: 26 USC 7478
