bond-basics

TEFRA Approval

The approval of the Bond Issue by the appropriate governmental unit after a TEFRA Hearing.

Dive Deeper on Tax Issues

Learn more about how various aspects of tax law intersect with municipal securities.


See Also

TEFRA

The acronym for the Tax Equity and Fiscal Responsibility Act of 1982, which applies additional tax requirements and considerations to tax-advantaged bonds.

TEFRA Notice

A notice of a TEFRA hearing, which, under the Treasury Regulations, must be published one time, at least seven days prior to the TEFRA hearing, in a newspaper of general circulation in the geographical jurisdiction of the Issuer of the tax-exempt bonds and in any “host jurisdiction” (or on the appropriate governmental entity’s website).

TEFRA Hearing

A public hearing held by an Issuer, following publication of a TEFRA notice, to give the public an opportunity to comment on a proposed private activity bond (PAB) issue.

Private Activity Bond (PAB)

The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.

Hudson Yards Rail Yards

Start with the Bond Basics

Pledge

A promise to set aside, dedicate and use exclusively for specified purposes certain categories of property, generally money or other intangibles.