exempt facility bond

For purposes of part IV of subchapter B of this chapter (relating to tax exemption requirements for State and local bonds), the term “exempt facility bond” includes any bond issued as part of an issue 95 percent or more of the net proceeds (as defined in section 150(a)(3)) of which are to be used to provide any enterprise zone facility.

Source

26 USC § 1394(a)

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Scoping language

None identified, default scope is assumed to be the parent (part II) of this section.

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