Form 8038-G

Form 8038-G

An information return that the issuer of a government tax-exempt bond worth more than $100,000 files with the IRS. The information required on the return includes the issue price, what the bond is used for, and the maturity date.
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In 2012 and 2013 combined, States and local governments used 29.4 percent of proceeds for "other bond purposes" not separately allocated by the issuer, or for issues that do not apply to any of the specific purposes listed on Form 8038-G. For example, filers often categorize bonds for capital improvements, which are bonds issued to fund multiple purposes, in the other bond purpose line.
* Form 8038, Form 8038-G, or Form 8038-GC filed with IRS;
States and local governments used nearly one-third (32.3 percent) of these proceeds for "other bond purposes," which may contain issues that were not separately allocated by the issuer, or issues that do not apply to any of the specific purposes listed on Form 8038-G. Issuers of governmental bonds for other purposes, education, and utilities used more proceeds to refund prior issues than to finance new capital projects, while issuers of governmental bonds for transportation, environment, public safety, and health and hospitals used more of their proceeds financing new capital projects than refunding prior bond issues.
[2] "Other purposes" refer to obligations for which a specific purpose either did not apply or was not clearly indicated on the Form 8038-G, Information Return for Tax-Exempt Government Obligations.
Nearly one-third (33.2 percent) of these proceeds were used for "other bond purposes." Proceeds used for other bond purposes may contain issues that were not separately allocated by the issuer, or issues not applicable to any of the purposes listed on Form 8038-G. Issuers of governmental bonds for education, utilities, and other purposes used more proceeds to refund prior issues than to finance new capital projects.
[2] "Other purposes" refer to obligations for which a specific purpose either did not apply or was not clearly indicated on Form 8038-G, Information Return for Tax-Exempt Government Obligations.
For Calendar Year 2009, issuers of direct payment bonds were required to file Form 8038-G, Information Return for Tax-Exempt Governmental Obligations.
For calendar year 2009, issuers of Build America Bonds were required to file IRS Form 8038-G, Information Return for Tax-Exempt Governmental Obligations.
For Calendar Year 2009, issuers of recovery zone exempt facility bonds were required to file IRS Form 8038-G, Information Return for Tax-Exempt Governmental Obligations.
The 2009 data also include a small number of tax credit bonds that were reported on Form 8038-G, Information Returns for Tax-Exempt Governmental Obligations, that specifically reference "qualified school construction" bonds, "clean renewable energy" bonds, "Midwestern tax credit" bonds, or "qualified zone academy" bonds.