Private Activity Bond definition

Private Activity Bond means (a) obligations of an issue more than 10% of the Proceeds of which, directly or indirectly, are or are to be used for a Private Business Use and more than 10% of the Debt Service on which, directly or indirectly, is or is to be paid from or secured by payments with respect to property, or secured by property, used for a Private Business Use, or (b) obligations of an issue, the Proceeds of which are or are to be used to make or finance loans to any Private Person that, in the aggregate, exceed the lesser of 5% of such Proceeds or $5,000,000. In the event of Unrelated or Disproportionate Use, the tests in (a) shall be applied by substituting 5% for 10% each place the latter term is used.

Private Activity Bond means a private activity bond as defined in Section 141 of the Code.

Private Activity Bond means any bond described in s. 141 of the Code.

Examples of Private Activity Bond in a sentence

• The State of Illinois (“the State”) has adopted procedures for the allocation of Volume Cap pursuant to the Illinois Private Activity Bond Allocation Act, 30ILCS 345 (the “Illinois Allocation Act”).

• The Authority conducts a Private Activity Bond Financing Program.

• Bonds issued by the ASLC are tax-exempt and generally subject to the Private Activity Bond (PAB) ceiling established by the Tax Reform Act of 1986.

• The allocation granted herein shall be used only for the bond issue described in Section 1 and for the general purpose set forth in the “Application for Allocation of a Portion of the State of Louisiana’s Private Activity Bond Ceiling” submitted in connection with the bond issue described in Section 1.

• In addition to being familiar with the federal programmatic requirements of the Code, Applicants should review the Bond Compliance Procedures Manual and the Tax Credit Compliance Procedures Manual as part of a due diligence process.The Commission reserves the right to change the policies at any time.The Bond/Tax Credit Policies guide the allocation of Private Activity Bond Volume Cap (“Bond Cap”) and the 4% Low-Income Housing Credit (“4% Credit”) to eligible projects.

More Definitions of Private Activity Bond

Private Activity Bond means a part or all of any bond (or other instrument) required to obtain an

Private Activity Bond means any Governmental Obligation if (i) there is more than 10% Private Use of the Proceeds of the obligations and more than 10% of the principal of or interest on the obligations is secured or to be paid, either directly or indirectly, by any Private User; (ii) more than the lesser of 5% of the Proceeds of the obligations or $5,000,000 is used to make Private Loans; and (iii) there is more than 5% in the aggregate of Unrelated Private Use and Disproportionate Private Use and more than 5% of the principal of or interest on the obligations is secured or to be paid, either directly or indirectly with respect to or from property financed with the Proceeds of the obligations that is used in an Unrelated Private Use or Disproportionate Private Use; all as described in Section 141 of the Code.

Private Activity Bond means a part or all of any bond, or other instrument, required to obtain a portion of the state’s volume cap pursuant to Section 146 of the Internal Revenue Code (26 U.S.C. Sec. 146) in order to be tax-exempt, including, generally, all of the following, as those bonds are defined in the Internal Revenue Code:

Private Activity Bond means any bond or other obligation which is a qualified bond under Section 141 of the code which is not excluded by Section 146(g),(h) and (i) of the code, or a bond or other obligation issued under Section 1312 or 1313 of the Tax Reform Act of 1986; and the private activity portion of government use bonds allocated by an issuing authority to an issue under Section 141(b)(5) of the code.

Private Activity Bond means a part or all of any bond (or other instrument) required to obtain an allocation from the Commonwealth's volume cap pursuant to § 146 of the Code in order to be tax exempt, including but not limited to the following:

Private Activity Bond means any bond issued as part of an issue the interest on which is not excluded from gross income for federal income tax purposes under Code § §103(a) and 141(a).

Private Activity Bond means any obligation the interest on which is exempt from tax under Section 103 of the Code and which is an exempt facility bond, a student loan bond, a qualified mortgage bond, a qualified veterans' mortgage bond, a qualified small issue bond, a qualified redevelopment bond, or a qualified 501 (c)(3) bond.