Section 400.2705 - Federal law change(a) Promulgation of regulations.--In the event that Federal law regulating tax-exempt bonds is changed and that such change would, in the opinion of the secretary, conflict with this chapter in such a way as to impair the ability of the Commonwealth to use tax-exempt bonds to their maximum benefit, the secretary shall, with the approval of the Governor, have the power to promulgate regulations or issue guidelines, directives, rulings or procedures which may become effective when the Federal law takes effect and which shall better enable the Commonwealth to utilize tax-exempt bonds to their maximum benefit and which shall, to the largest extent possible, carry out the purposes set forth in this chapter. Provisions of this chapter may be suspended by the secretary to the extent deemed necessary to implement the regulations authorized by this subsection.(b) Standby allocation.--(Reserved).1996, June 29, P.L. 434, No. 67, § 2705, added 1998, Nov. 17, P.L. 788, No. 100, § 10, imd. effective.