WASHINGTON — Four major municipal market groups are urging the Treasury Department to issue guidance confirming that the existing regulatory framework on issue price for tax-exempt bonds also applies to Build America Bonds and stating that if issuers follow certain long-standing practices, they can be confident they are complying with the rules in this area.

The groups stressed there is an “urgent need” for such guidance in a letter sent late Friday to John Cross III, the Treasury’s associate tax legislative counsel.

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