private activity bond

(I)For purposes of clause (i), the term “private activity bond” shall not include any bond issued after, and before. (II)For purposes of subclause (I), a refunding bond (whether a current or advance refunding) shall be treated as issued on the date of the issuance of the refunded bond (or in the case of a series of refundings, the original bond). (III)Subclause (II) shall not apply to any refunding bond which is issued to refund any bond which was issued after, and before.

Source

26 USC § 57(a)(5)(C)(vi)(I)


Scoping language

For purposes of this part
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