Source: https://www.irs.gov/irb/2019-08_IRB
Timestamp: 2019-08-24 18:11:21
Document Index: 786484673

Matched Legal Cases: ['§ 417', '§ 430', '§ 147', 'arts 1', '§ 1', '§ 1', 'art 1', 'art 5', '§ 5', '§ 5', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 1', '§ 5', 'art 5', '§ 5', '§ 414', '§ 412', '§ 430', '§ 430', '§ 430', '§ 412', '§ 431', '§ 417']

Internal Revenue Bulletin: 2019-08 | Internal Revenue Service
Internal Revenue Bulletin: 2019-08
T.D. 9845
Notice 201913
Notice 2019–13 Notice 2019–13
This notice sets forth updates on the corporate bond monthly yield curve, the corresponding spot segment rates for January 2019 used under § 417(e)(3)(D), the 24-month average segment rates applicable for January 2019, and the 30-year Treasury rates, as reflected by the application of § 430(h)(2)(C)(iv).
Action On Decision 2019–01 Action On Decision 2019–01
Acquiescence in result only as to whether a professional hockey team’s expenses for providing pregame meals at away city hotels were fully deductible because they were provided at employer-operated facilities.
T.D. 9845 T.D. 9845
Under § 147(f) of the Code, a private activity bond is not tax-exempt if it is not approved by both the governmental unit issuing the bond and the governmental unit in which the financed property will be located. These final regulations update the existing regulations to address changes in the Code and to provide issuers of private activity bonds additional flexibility in satisfying the approval requirement.
The Commissioner ACQUIESCES in result only to the following decision:
Jacobs v. Commissioner, 148 T.C. No. 24 (2017), [1]
[1] Acquiescence in result only as to whether a professional hockey team’s expenses for providing pregame meals at away city hotels were fully deductible because they were provided at employer-operated facilities.
DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 5f
Effective date: These regulations are effective December 31, 2018
Applicability date: For dates of applicability, see § 1.147(f)–1(h).
The collection of information contained in these final regulations has been reviewed and approved by the Office of Management and Budget in accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3507(d)) under OMB Control Number 1545-2185. The collection of information in these final regulations is the requirement in § 1.147(f)–1 that certain information be contained in a public notice or public approval and, consequently, disclosed to the public. This information is required to meet the statutory public approval requirement provided in section 147(f) of the Internal Revenue Code.
This document contains amendments to 26 CFR part 1 under section 147(f) of the Internal Revenue Code of 1986 (Code) and 26 CFR part 5f under section 103(k) of the Internal Revenue Code of 1954 (1954 Code). In the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), Public Law 97–248, 96 Stat. 324, Congress redesignated subsection (k) of section 103 of the 1954 Code as subsection (l) and inserted a new subsection (k) that imposed a public approval requirement on tax-exempt industrial development bonds. On May 11, 1983, the Department of the Treasury (Treasury Department) and the IRS published in the Federal Register (48 FR 21115) temporary regulations under section 103(k) of the 1954 Code (TD 7892) (Existing Regulations). See § 5f.103–2. A notice of proposed rulemaking (LR–221–82) by cross-reference to the temporary regulations was published in the Federal Register (48 FR 21166) on the same day.
In the Tax Reform Act of 1986 (1986 Tax Act), Public Law 99–514, 100 Stat. 2085, Congress reorganized the tax-exempt bond provisions and carried forward the public approval requirement of section 103(k) of the 1954 Code in expanded form in section 147(f) of the Code. In section 147(f), Congress extended the public approval requirement to apply to all types of tax-exempt private activity bonds, as provided in section 141(e). The legislative history of the 1986 Tax Act states that “[t]he conferees intend that, to the extent not amended, all principles of present law continue to apply under the reorganized provisions.” H.R. Rep. No. 99–841, at II–686 (1986) (Conf. Rep.). Thus, the Existing Regulations in § 5f.103–2 remained in effect even after the 1986 Tax Act became law.
On September 9, 2008, the Treasury Department and the IRS published a notice of proposed rulemaking (REG–128841–07) in the Federal Register (73 FR 52220) that proposed regulations to amend and supplement the Existing Regulations (2008 Proposed Regulations). The Treasury Department and the IRS received public comments on the 2008 Proposed Regulations and held a public hearing on January 26, 2009. On September 28, 2017, the Treasury Department and the IRS withdrew the 2008 Proposed Regulations and published a second notice of proposed rulemaking (REG–128841–07) in the Federal Register (82 FR 45233) (2017 Proposed Regulations). The Treasury Department and the IRS received comments on the 2017 Proposed Regulations but did not hold a public hearing because none was requested. After consideration of all of the comments, the 2017 Proposed Regulations are adopted as amended by this Treasury decision (Final Regulations).
1. Section 1.147(f)–1(d): Public Hearing and Reasonable Public Notice
Other commenters suggested alternative means to satisfy the public hearing requirement. One commenter suggested allowing a public hearing by teleconference or webinar. The Treasury Department and the IRS have determined that, although these technologies may be effective for other purposes, they cannot replace a conventional public hearing conducted in-person because they are not sufficiently reliable, publicly available, susceptible to public response, or uniform in their features and operation. Another commenter suggested allowing a public hearing performed for any other federal, state, or local purpose to satisfy the public hearing requirement under section 147(f), regardless of the procedures by which the organizer publishes notice or conducts the hearing. The Final Regulations defer to a certain degree to state and local procedures for conducting a public hearing and publishing notice of that hearing. See § 1.147(f)–1(d)(3) and (d)(4)(iv) of the Final Regulations. Furthermore, to the extent that a hearing conducted for another governmental purpose satisfies all of the requirements of section 147(f) and the Final Regulations, such a hearing may serve for both purposes. The Treasury Department and the IRS have determined, however, that state and local procedures may not supersede a specific requirement of the Final Regulations. Accordingly, the Final Regulations do not adopt either of these comments.
The 2017 Proposed Regulations proposed to treat notice as presumed to be reasonably designed to inform residents of an approving governmental unit if, among other things, the notice was posted to the approving governmental unit’s public website. Many commenters supported this proposed rule. Some commenters suggested modifications to this rule. Several commenters noted that issuers that issue bonds on behalf of a governmental unit may be unable to use this rule as proposed. The proposed rule would permit publication on the website of the approving governmental unit, but an on-behalf-of issuer (such as a constituted authority that acts on behalf of a city or county) may not have the authority to post content to the approving governmental unit’s website. Commenters suggested permitting publication of a public notice on the website of the on-behalf-of issuer as an alternative to the website of the approving governmental unit. The Final Regulations adopt this comment. The Final Regulations provide that, for an issuer approval by an issuer that acts on behalf of a governmental unit, public notice may be posted on the public website of either the on-behalf-of issuer or the approving governmental unit.
Further, to address concerns that a public notice posted on a large, complex website may be difficult for the intended recipients of that public notice to locate, the Final Regulations clarify that a public notice must be posted on the governmental unit’s primary public website in an area of that website that is used to inform its residents about events affecting the residents. In addition, issuers remain responsible for maintaining records showing that a public notice containing the requisite information was timely posted to an appropriate website. See § 1.6001–1.
The 2017 Proposed Regulations included a provision in § 1.147(f)–1(d)(4)(iv) that presumed notice to be reasonable if, among other things, the notice was given in a way permitted under a general state law for providing public notice of a public hearing held by the approving governmental unit. The 2017 Proposed Regulations also included a provision in § 1.147(f)–1(d)(3) that treated a public hearing performed in compliance with state procedural requirements as meeting the public hearing requirements of section 147(f) except to the extent in conflict with a specific requirement of the proposed regulations. One commenter expressed a concern that these two provisions were inconsistent. The Treasury Department and the IRS have determined that these two provisions of the 2017 Proposed Regulations are not inconsistent. In this regard, § 1.147(f)–1(d)(3) addresses public hearings and § 1.147(f)–1(d)(4) addresses public notices. Upon consideration of this comment and in response to concerns raised about the accessibility of notices given under state laws, the Final Regulations clarify that notice given in a way a state permits under a general law must still be reasonably accessible to the residents of the approving governmental unit.
2. Section 1.147(f)–1(e): Applicable Elected Representative
The 2017 Proposed Regulations provided that an applicable elected representative of the approving governmental unit may execute a public approval. The 2017 Proposed Regulations provided that the applicable elected representative of a governmental unit consists of any one of the following: (1) The governmental unit’s elected legislative body; (2) the governmental unit’s chief elected executive officer; (3) in the case of a state, the chief elected legal officer of the state’s executive branch of government; or (4) any official elected by the voters of the governmental unit and designated by the governmental unit’s chief elected executive officer or by state or local law to approve issues for the governmental unit. One commenter suggested expanding the definition of an applicable elected representative to include the chairman of the governing board of a conduit issuer, if that person is appointed by an elected official to execute public approvals and empowered to approve a bond resolution to authorize an issuance of private activity bonds. The 2017 Proposed Regulations reflected the statutory definition of an applicable elected representative in section 147(f). This statutory definition generally requires that an applicable elected representative be either an elected official or a body comprised of elected officials. Under section 147(f)(2)(E)(i), the statute allows an appointee of an elected official to serve as an applicable elected representative only in the event that the office of an applicable elected representative is vacated and only for the remaining term of the elected official who vacated that office. The Treasury Department and the IRS have determined that expanding the statutory definition of applicable elected representative to permit the appointee of an elected official to qualify as an applicable elected representative on a permanent basis would be inconsistent with the purpose and content of the statute. Accordingly, the Final Regulations adopt this provision as proposed.
3. Section 1.147(f)–1(f): Contents of Notice and Approval
The 2017 Proposed Regulations provided that a project was within the scope of a public approval if the requisite public notice and the approval contained a general functional description of the project, the maximum stated principal amount of bonds to be issued to finance the project, the name of the initial owner or principal user of the project, and a general description of the project’s location. The 2017 Proposed Regulations further provided that a substantial deviation between the information required to be provided in the notice and approval and the actual use of proceeds of the issue generally would cause that issue to fail to meet the public approval requirement.
One commenter suggested the notice and approval should require only the aggregate maximum stated principal amount of the bonds of the issue to be used to finance all of the projects financed by the issue. Another commenter similarly suggested that a deviation between the maximum stated principal amount of the bonds to be used to finance a project as provided in the notice and approval and the actual stated principal amount of the bonds so used be calculated with respect to the issue as a whole rather than individually for each project. The Treasury Department and the IRS have determined that the relative principal amounts within an issue to be spent on each separate project are relevant information for this public approval process. The approximate amount of money used to fund a particular project is evidence of the scope of that project and the project’s potential impact on the local community. By contrast, the aggregate maximum stated principal amount of bonds financing all projects financed by an issue is essentially the stated principal amount of the issue and conveys little additional information about the relative scopes of the particular projects in multiple-project financings. Accordingly, the Final Regulations do not adopt these comments.
The Existing Regulations provide that a facility is within the scope of a public approval if the public notice and approval contain the prospective location of the facility by its street address or, if none, by a general description designed to inform readers of its specific location. The 2017 Proposed Regulations required that the public notice and approval include a general description of the prospective location of the project by street address, reference to boundary streets or other geographic boundaries, or other description of the specific geographic location that is reasonably designed to inform readers of the location. One commenter raised a concern that the phrase “specific geographic location” in the 2017 Proposed Regulations would be more restrictive than the language in the Existing Regulations and would be burdensome for projects located at well-known landmarks, which may be widely recognized by their public name but may not have a street address or identifiable geographic boundaries. The Treasury Department and the IRS do not agree with the comment because, as noted above, the 2017 Proposed Regulations and the Existing Regulations both call for a general description of the specific location. The Final Regulations adopt this provision as proposed.
For qualified 501(c)(3) bonds issued to finance pooled loan programs that are described in section 147(b)(4)(B), the 2017 Proposed Regulations provided a special, two-stage public approval process. At the time that such bonds are issued, the issuer may have only limited information about the projects to be financed. Thus, for the first stage of public approvals occurring before the qualified 501(c)(3) bonds are issued, the 2017 Proposed Regulations allowed the public notice and approval to include limited general information about projects to be financed, such as the maximum stated principal amount of bonds expected to finance loans to section 501(c)(3) organizations or governmental units and a general description of the types of projects to be financed with those loans (for example, hospital facilities or college facilities). For the second stage of public approvals for these financings, before the issuer originates a loan to a section 501(c)(3) organization or governmental unit, the 2017 Proposed Regulations required a supplemental public approval satisfying the ordinary requirements of section 147(f) for the bonds financing that loan. One commenter recommended that no host approval be required at the time of the limited pre-issuance public approval before the qualified 501(c)(3) bonds are issued because the specific project information may be unknown at that time. The Final Regulations adopt this comment. Under the Final Regulations, for this type of financing, an issuer may either meet the general rules on the public approval requirement or, alternatively, at the issuer’s option, may meet the special rules for a two-stage public approval process that reflects adoption of this comment. In particular, under this optional two-stage public approval process, a pre-issuance issuer approval is required and a supplemental post-issuance public approval, including issuer approval and host approval, is required.
4. Section 1.147(f)–1(g): Definitions
One commenter noted that, under the 2017 Proposed Regulations, two financed properties that are located on non-proximate sites could not be part of a single project, whereas two such financed properties could be part of a single facility under the Existing Regulations if the properties were part of an integrated operation. The commenter suggested that this aspect of the definition of project in the 2017 Proposed Regulations was more burdensome than the definition of facility in the Existing Regulations. In general, the 2017 Proposed Regulations would provide greater flexibility to permit a greater physical distance between the sites included in a project than would the Existing Regulations, as the 2017 Proposed Regulations would permit a single project to include financed property at sites that are proximate but not adjoining. The Final Regulations generally adopt this more flexible definition of project from the 2017 Proposed Regulations. In addition, to address this commenter’s concern, the Final Regulations also retain the longstanding “integrated operations” standard from the Existing Regulations to allow capital projects or facilities that are located on non-proximate sites to be treated as a one project if those capital projects or facilities are used in an integrated operation.
The same commenter also suggested adopting the very broad definition of project from a different context involving mixed-use projects under § 1.141–6(a)(3), which generally includes any facilities or capital projects financed in whole or in part with proceeds of the issue. The commenter reasoned that the requirement in the 2017 Proposed Regulations that the public notice and approval include the maximum stated principal amount of the issue to be used to finance each project would lock an issuer into a specific allocation of bond proceeds to the project as defined in section 147(f), whereas § 1.141–6 would permit floating allocations of bond proceeds to financed property in certain cases. These two definitions of project serve rules with different purposes, and the different definitions reflect those purposes. The Treasury Department and the IRS have determined that, if the public notice and approval presented this information as an aggregate of all property financed by the issue, members of the public and approving officials would be unable to extract and evaluate the portions of the aggregate relevant to their respective roles in the public approval process. The Final Regulations do not adopt this comment.
5. Section 1.147(f)–1(h): Applicability of the Final Regulations
The Final Regulations apply to bonds issued pursuant to a public approval occurring on or after April 1, 2019. In addition, in response to public comments, an issuer may apply the provisions of § 1.147(f)–1(f)(6) of the Final Regulations (regarding deviations in public approval information) in whole, but not in part, to bonds issued pursuant to a public approval occurring before April 1, 2019.
This regulation is not subject to review under section 6(b) of Executive Order 12866 pursuant to the Memorandum of Agreement (April 11, 2018) between the Department of the Treasury and the Office of Management and Budget regarding review of tax regulations. It is hereby certified that these regulations will not have a significant economic impact on a substantial number of small entities. The Existing Regulations provide guidance on the minimum informational content, procedures, and timing for the statutorily required public notices, public hearings, and public approvals. Although the Final Regulations are expected to affect a significant number of small state or local governmental units that issue tax-exempt private activity bonds, the Final Regulations are not expected to have a significant economic effect on those governmental units because the Final Regulations generally would streamline and simplify the Existing Regulations in various respects to reduce the administrative burdens of meeting the statutory public approval requirement. For example, the Final Regulations, unlike the Existing Regulations, would permit publication of public notice by website to reduce costs associated with print publication or radio or television broadcast, reduce the information required to be contained in public notice and public approval for certain types of bonds, liberalize the consequences of insubstantial changes in project information, and permit curative actions to address certain circumstances in which finished projects differ from descriptions provided in the public notice or public approval. Accordingly, a regulatory flexibility analysis is not required. Pursuant to section 7805(f) of the Code, the 2017 Proposed Regulations preceding the Final Regulations were submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business. No comments were received.
(iii) Governmental unit website posting. Public notice may be given by electronic posting on the approving governmental unit’s primary public website in an area of that website used to inform its residents about events affecting the residents (for example, notice of public meetings of the governmental unit). In the case of an issuer approval of an issue issued by an on-behalf-of issuer that acts on behalf of a governmental unit, such notice may be posted on the public website of the on-behalf-of issuer as an alternative to the public website of the approving governmental unit.
(5) Special rule for certain qualified 501(c)(3) bonds. Qualified 501(c)(3) bonds issued pursuant to section 145 for pooled loan financings that are described in section 147(b)(4)(B) (without regard to any election under section 147(b)(4)(A)) are within the scope of a public approval if the public approval either meets the general requirements of paragraph (b) of this section or, alternatively, at the issuer’s option, meets the special requirements of paragraphs (f)(5)(i) and (ii) of this section.
(h) Applicability date. This section applies to bonds issued pursuant to a public approval occurring on or after April 1, 2019. For bonds issued pursuant to a public approval occurring before April 1, 2019, see § 5f.103–2 as contained in 26 CFR part 5f, revised as of April 1, 2018. In addition, an issuer may apply the provisions of paragraph (f)(6) of this section in whole, but not in part, to bonds issued pursuant to a public approval occurring before April 1, 2019.
§ 5f.103–2 [Removed]
David J. Kautter, Assistant Secretary of the Treasury (Tax Policy)
(Filed by the Office of the Federal Register on December 28, 2018, 8:45 a.m., and published in the issue of the Federal Register for December 31, 2018, 83 F.R. 67685)
Notice 2019–13
Section 430 specifies the minimum funding requirements that apply to single-employer plans (except for CSEC plans under § 414(y)) pursuant to § 412. Section 430(h)(2) specifies the interest rates that must be used to determine a plan’s target normal cost and funding target. Under this provision, present value is generally determined using three 24-month average interest rates (“segment rates”), each of which applies to cash flows during specified periods. To the extent provided under § 430(h)(2)(C)(iv), these segment rates are adjusted by the applicable percentage of the 25-year average segment rates for the period ending September 30 of the year preceding the calendar year in which the plan year begins.[2] However, an election may be made under § 430(h)(2)(D)(ii) to use the monthly yield curve in place of the segment rates.
Notice 2007–81, 2007–44 I.R.B. 899, provides guidelines for determining the monthly corporate bond yield curve, and the 24-month average corporate bond segment rates used to compute the target normal cost and the funding target. Consistent with the methodology specified in Notice 2007–81, the monthly corporate bond yield curve derived from December 2018 data is in Table 2018–12 at the end of this notice. The spot first, second, and third segment rates for the month of December 2018 are, respectively, 3.38, 4.32, and 4.69.
The three 24-month average corporate bond segment rates applicable for January 2019 without adjustment for the 25-year average segment rate limits are as follows:
January 2019 2.55 3.93 4.49
Based on § 430(h)(2)(C)(iv), the 24-month averages applicable for January 2019, adjusted to be within the applicable minimum and maximum percentages of the corresponding 25-year average segment rates, are as follows:
2017 January 2019 4.16 5.72 6.48
2018 January 2019 3.92 5.52 6.29
2019 January 2019 3.74 5.35 6.11
Section 431 specifies the minimum funding requirements that apply to multiemployer plans pursuant to § 412. Section 431(c)(6)(B) specifies a minimum amount for the full-funding limitation described in § 431(c)(6)(A), based on the plan’s current liability. Section 431(c)(6)(E)(ii)(I) provides that the interest rate used to calculate current liability for this purpose must be no more than 5 percent above and no more than 10 percent below the weighted average of the rates of interest on 30-year Treasury securities during the four-year period ending on the last day before the beginning of the plan year. Notice 88–73, 1988–2 C.B. 383, provides guidelines for determining the weighted average interest rate. The rate of interest on 30-year Treasury securities for December 2018 is 3.10 percent. The Service determined this rate as the average of the daily determinations of yield on the 30-year Treasury bond maturing in November 2048. For plan years beginning in January 2019, the weighted average of the rates of interest on 30-year Treasury securities and the permissible range of rates used to calculate current liability are as follows:
January 2019 2.92 2.63 to 3.06%
In general, the applicable interest rates under § 417(e)(3)(D) are segment rates computed without regard to a 24-month average. Notice 2007–81 provides guidelines for determining the minimum present value segment rates. Pursuant to that notice, the minimum present value segment rates determined for December 2018 are as follows:
December 2018 3.38 4.32 4.69
Table 2018–12
Monthly Yield Curve for December 2018
Derived from December 2018 Data
0.5 2.98 20.5 4.61 40.5 4.70 60.5 4.74 80.5 4.76
1.0 3.12 21.0 4.62 41.0 4.71 61.0 4.74 81.0 4.76
1.5 3.24 21.5 4.62 41.5 4.71 61.5 4.74 81.5 4.76
2.0 3.33 22.0 4.62 42.0 4.71 62.0 4.74 82.0 4.76
2.5 3.40 22.5 4.63 42.5 4.71 62.5 4.74 82.5 4.76
3.0 3.45 23.0 4.63 43.0 4.71 63.0 4.74 83.0 4.76
3.5 3.49 23.5 4.63 43.5 4.71 63.5 4.74 83.5 4.76
4.0 3.54 24.0 4.64 44.0 4.71 64.0 4.74 84.0 4.76
4.5 3.58 24.5 4.64 44.5 4.71 64.5 4.74 84.5 4.76
5.0 3.63 25.0 4.64 45.0 4.72 65.0 4.74 85.0 4.76
5.5 3.69 25.5 4.64 45.5 4.72 65.5 4.74 85.5 4.76
6.0 3.75 26.0 4.65 46.0 4.72 66.0 4.75 86.0 4.76
6.5 3.81 26.5 4.65 46.5 4.72 66.5 4.75 86.5 4.76
7.0 3.87 27.0 4.65 47.0 4.72 67.0 4.75 87.0 4.76
7.5 3.94 27.5 4.66 47.5 4.72 67.5 4.75 87.5 4.76
8.0 4.00 28.0 4.66 48.0 4.72 68.0 4.75 88.0 4.76
8.5 4.06 28.5 4.66 48.5 4.72 68.5 4.75 88.5 4.76
9.0 4.12 29.0 4.66 49.0 4.72 69.0 4.75 89.0 4.76
9.5 4.17 29.5 4.67 49.5 4.72 69.5 4.75 89.5 4.76
10.0 4.22 30.0 4.67 50.0 4.72 70.0 4.75 90.0 4.76
10.5 4.27 30.5 4.67 50.5 4.73 70.5 4.75 90.5 4.76
11.0 4.31 31.0 4.67 51.0 4.73 71.0 4.75 91.0 4.76
11.5 4.35 31.5 4.67 51.5 4.73 71.5 4.75 91.5 4.76
12.0 4.39 32.0 4.68 52.0 4.73 72.0 4.75 92.0 4.76
12.5 4.42 32.5 4.68 52.5 4.73 72.5 4.75 92.5 4.76
13.0 4.45 33.0 4.68 53.0 4.73 73.0 4.75 93.0 4.76
13.5 4.47 33.5 4.68 53.5 4.73 73.5 4.75 93.5 4.76
14.0 4.49 34.0 4.68 54.0 4.73 74.0 4.75 94.0 4.76
14.5 4.51 34.5 4.69 54.5 4.73 74.5 4.75 94.5 4.76
15.0 4.53 35.0 4.69 55.0 4.73 75.0 4.75 95.0 4.76
15.5 4.54 35.5 4.69 55.5 4.73 75.5 4.75 95.5 4.77
16.0 4.55 36.0 4.69 56.0 4.73 76.0 4.75 96.0 4.77
16.5 4.56 36.5 4.69 56.5 4.73 76.5 4.75 96.5 4.77
17.0 4.57 37.0 4.69 57.0 4.74 77.0 4.75 97.0 4.77
17.5 4.58 37.5 4.70 57.5 4.74 77.5 4.75 97.5 4.77
18.0 4.59 38.0 4.70 58.0 4.74 78.0 4.76 98.0 4.77
18.5 4.59 38.5 4.70 58.5 4.74 78.5 4.76 98.5 4.77
19.0 4.60 39.0 4.70 59.0 4.74 79.0 4.76 99.0 4.77
19.5 4.60 39.5 4.70 59.5 4.74 79.5 4.76 99.5 4.77
20.0 4.61 40.0 4.70 60.0 4.74 80.0 4.76 100.0 4.77
Bulletin 2019–8