OFM - Arbitrage Rebate Services

The Commonwealth of Kentucky, Finance and Administration Cabinet, Office of Financial Management, is seeking proposals from qualified firms and/or individuals to provide arbitrage rebate calculation services and related federal tax compliance services for the Commonwealth of Kentucky and its agencies. The awarded Offeror(s) will provide arbitrage rebate calculation services to satisfy the requirements of Section 148 of the Internal Revenue Code of 1986, for the entities covered in this RFP. The services include arbitrage calculations and reporting, IRS inquiries, backlog compliance work, and additional services as necessary. The contract is expected to be for a period of two years, commencing on July 1, 2026, with the possibility of renewal for up to two additional two-year periods. Some key points to consider: * The Offeror(s) will be required to provide one electronic version (PDF format) of each arbitrage rebate report, including IRS Form 8038-T, as applicable. * The Commonwealth requires annual rebate calculations for issues with unspent construction proceeds. * The Offeror(s) will be required to perform tasks such as data review and analysis, compute excess earnings, prepare annual calculations, and prepare at least annually a summary status report of arbitrage liability for each assigned entity. * The Offeror(s) may be required to assist the Commonwealth in completing backlog arbitrage compliance work. * The contract may be renewed for up to two additional two-year periods, subject to applicable approvals.