New Jersey Housing and Mortgage Finance Agency

Buyer seeks an independent firm to provide arbitrage rebate and yield reduction liability calculation services on certain bond issues subject to Internal Revenue Code provisions. Services include annual calculations, installment reports, and consultation on arbitrage rebate compliance matters. The firm must demonstrate understanding of tax laws related to arbitrage rebate calculations and experience with housing bonds and related hedge instruments.

• 5/22/2025 - RFP Issue Date
• 6/4/2025 - Questions Due
• 6/17/2025 - Proposal Due Date

• Must be a CPA, attorney, or qualified professional
• Must have five years full-time equivalent experience in arbitrage rebate services
• Experience with fixed and variable rate housing bonds
• Experience with related hedge instruments

• Calculate arbitrage rebate liability on tax-exempt bonds
• Determine yield reduction liability for selected bond issues
• Provide annual calculations by December 31st for accounting purposes
• Complete installment calculation reports for Capital Fund Program Bonds
• Submit signed reports with detailed supporting schedules
• Prepare IRS form 8038-T with filing instructions when remittance is due
• Evaluate eligibility for spending exceptions to rebate requirements
• Calculate arbitrage for fixed and variable rate bonds
• Update bond yields for variable rate tax plans
• Consult on arbitrage rebate regulations and compliance matters