qualified small issue bond

(1) In general For purposes of this part, the term “qualified small issue bond” means any bond issued as part of an issue the aggregate authorized face amount of which is $1,000,000 or less and 95 percent or more of the net proceeds of which are to be used— (A) for the acquisition, construction, reconstruction, or improvement of land or property of a character subject to the allowance for depreciation, or (B) to redeem part or all of a prior issue which was issued for purposes described in subparagraph (A) or this subparagraph.


26 USC § 144(a)(1)

Scoping language

For purposes of this part
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