TEFRA
The acronym for the Tax Equity and Fiscal Responsibility Act of 1982, which applies additional tax requirements and considerations to tax-advantaged bonds.
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TEFRA Approval
The approval of the Bond Issue by the appropriate governmental unit after a TEFRA Hearing.
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See Also
TEFRA Notice
A notice of a TEFRA hearing, which, under the Treasury Regulations, must be published one time, at least seven days prior to the TEFRA hearing, in a newspaper of general circulation in the geographical jurisdiction of the Issuer of the tax-exempt bonds and in any “host jurisdiction” (or on the appropriate governmental entity’s website).
TEFRA Hearing
A public hearing held by an Issuer, following publication of a TEFRA notice, to give the public an opportunity to comment on a proposed private activity bond (PAB) issue.
Private Activity Bond (PAB)
The term used in the Code to describe any bond issued as part of a bond issue that meets both of the private business tests or meets the private loan financing test.
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Advance Refunding
A type of refunding transaction in which the refunding bonds are issued more than 90 days before the redemption or final maturity, whichever is earlier, of the refunded bonds.