Code (Internal Revenue)
The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.
bond-basics
Gross Proceeds
Includes sale proceeds, investment proceeds, transferred proceeds (which, together with sale and investment proceeds equal the “proceeds” of the Bonds) and replacement proceeds, all of which are defined in the Code.
See Also
Start with the Bond Basics
Hundreds of Terms and Concepts
Tax Cuts and Jobs Act (TCJA) of 2017
Congress passed the Tax Cuts and Jobs Act (TCJA) in 2017. The large tax bill passed under reconciliation rules made major changes to the Internal Revenue Code (IRC), including the elimination of tax-exempt advance refunding bonds.