bond-basics

Useful Life

An accounting estimate of the number of years it is likely for an asset to remain in service for the purpose of cost-effective revenue generation. The Internal Revenue Service (IRS) employs Useful Life for various purposes applicable to Tax-Exempt Bonds.

Hudson Yards Rail Yards

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Code (Internal Revenue)

The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.