Tax Exempt Compliance Private Use of UCONN 2000 Financed Projects

POLICIES AND PROCEDURES FOR USES OF UCONN 2000 TAX EXEMPT DEBT FUNDED ASSETS BY NON-UCONN ENTITIES, INCLUDING NON-PROFITS AND U.S. GOVERNMENT, CGS 4b-38(g) COMPLIANCE CAN BE FOUND HERE: 
TAX EXEMPT COMPLIANCE PRIVATE USE OF UCONN 2000 FINANCED PROJECTS

Private Use Information and Safe Harbor Guidelines: Tax Exempt Compliance Private Use of UCONN 2000 Financed Projects

If a non-UConn entity is expected to use a UConn asset this could be considered private activity.  If there is possible private activity please fill out the form below:

Project Tax Information Compliance Questionnaire For UCONN 2000 Projects Financed With Tax Exempt Debt – Blank Form 

If there is possible private activity please that involves Research please fill out this form in addition the one above:

Project Tax Information Compliance Questionnaire For UCONN 2000 Projects That Involve Research Financed With Tax Exempt Debt – Blank Form – Schedule B Research

Background:

We appreciate continued assistance in keeping us informed on private activity/use related to any UCONN 2000 debt financed assets by forwarding any documents concerning any private use of any tax-exempt bond funded asset including leases, management contracts, private payments, provisions of services (e.g. utility or other services), Technology Incubation and cooperative ventures to the Office of Treasury Services. Greater detail is available in the link below.

The IRS issued new rules for all contracts entered into or substantially modified after August 17, 2017 and now specifically differentiates leases from management contracts. Please note the rights of the parities determines the IRS interpretation of private use, no matter what it is called. The new rules impose new requirements such as the service provider must agree not to take any tax position that is inconsistent with UConn’s tax ownership of the managed property.

Private Use can take the form of  contracts, leases, management use agreements.   Some examples of possible private activity/use are: a food restaurant leasing space in the Stamford Campus, a private company managing one of the UConn Parking garages, or an entity occasionally using space in a building on terms other than those available to the general public. These should be forwarded to the Office of Treasury Services for review along with the completed Project Tax Information Compliance Questionnaire for UCONN 2000 Projects Financed with Tax Exempt Debt found below.