501(c)3 Bonds

One of the tests used in establishing whether a bond is a private activity bond (PAB) for tax purposes. The private loan financing test specifically determines whether more than $5…

Rule outlined in Section 147(b) of the code that states private activity bonds are not tax-exempt bonds if the weighted average maturity of the bond issue exceeds 120% of the…

A fund into which pledged revenues may be required to be deposited as received and from which disbursements are made to pay allowable operations and maintenance expenses and to meet…

A bond which is to be repaid from a specific source of revenues, typically those produced by the facility or system for which the bond is issued.

The term used in Section 145 of the code to refer to a type of tax-exempt bonds issued as private activity bonds for the benefit of a 501(c)(3) organization.

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…

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.

The approval of the bond issue by the appropriate governmental unit after a TEFRA hearing.

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

Any use of Bond proceeds in a trade or business carried on by a person other than a governmental unit. The private business tests are used in part to establish…

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…

Approval by the governmental unit in the geographic jurisdiction which contains the site of the project to be financed by a private activity bond issue, as required by TEFRA.