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
For private activity bonds, use Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues.
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; (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 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 bond described in s. 141 of the code. (7) “Qualified Public Educational Facility” means a facility described in
Private Activity Bond means (i) obligations of an issue more than ten percent of the Proceeds of which are or are to be used for a Private Business Use and more than ten percent (five percent in each case for either unrelated or disproportionate Private Business Use) of the Debt Service on which 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 (ii) obligations of an issue five percent or more of the Proceeds of which are or are to be used to make or finance loans to any Private Person.
Private Activity Bond means an obligation which satisfies the private business use and the private security or payment tests as provided in Section 141(a)(1) of the Code or satisfies the private loan financing test as provided in Section 141(a)(2) 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: