Exempt Facility Bonds

Public Finance Perspective: Rays of Hope for Public Works Financing
Two recent IRS releases offering relief and promoting financial stability in uncertain economic times address regulatory exceptions for bond guarantees and the treatment of Demand Deposit State and Local Government…

Requests for 2023-2024 IRS Priority Guidance Plan
Requested items for inclusion on the Internal Revenue Service’s (IRS) 2023-2024 Priority Guidance Plan.

Conduit Issues AND Exempt Facility Bonds [The Essentials 2023]
Introduction to state law creation of and limitations on conduit bond issuers, the roles of counsel, multi-state issuers, and many other issues unique to conduit bond issues.

Private Loan Financing Test
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…

120% Rule
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…

Exempt Facility Bonds
Type of private activity bond (PAB) permitted to be issued as a tax-exempt bond under Section 142 of the code for the purpose of funding many categories of exempt facilities.

Request for Guidance On Qualified Broadband Bonds
Comments submitted to the Internal Revenue Service (IRS) requesting clarifying guidance pertaining to the recently enacted qualified broadband project bonds.

Volume Cap
A requirement contained in Section 146 of the Code that private activity bonds (PAB) (with certain exceptions) issued as tax-exempt bonds obtain an allocation of volume cap from the state…

Revenue Fund
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…

Revenue Bond
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.

Industrial Development Bonds
Term used to describe certain private activity bonds (PABs) under the 1954 Code that is still occasionally used.

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…