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Treasury Regulations · 26 CFR

§ 1.142-1. Exempt facility bonds.

In effect eCFR current as of October 15, 2026

Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).

Regulation under 26 U.S.C. § 142

Cite as 26 CFR § 1.142-1

At a glance

Read from the text and its source citation. Not part of the regulation.

Status
In the current eCFR
Issued
January 16, 1997 by T.D. 8712
Issued under
26 U.S.C. § 142
Length
174 words · about 1 min to read
Cross-references
cites 3 Code sections and 3 regulations; cited by 2
(a) Overview. Interest on a private activity bond is not excludable from gross income under section 103(a) unless the bond is a qualified bond. Under section 141(e)(1)(A), an exempt facility bond issued under section 142 may be a qualified bond.

Under section 142(a), an exempt facility bond is any bond issued as a part of an issue using 95 percent or more of the proceeds for certain exempt facilities.

(b) Scope. Sections 1.142-0 through 1.142-3 apply for purposes of the rules for exempt facility bonds under section 142, except that, with respect to net proceeds that have been spent, § 1.142-2 does not apply to bonds issued under section 142(d) (relating to bonds issued to provide qualified residential rental projects) and section 142(f) (2) and (4) (relating to bonds issued to provide local furnishing of electric energy or gas).
(c) Effective dates. For effective dates of §§ 1.142-0 through 1.142-2, see § 1.141-16.

[T.D. 8712, 62 FR 2302, Jan. 16, 1997]

Other regulations under § 142

Cross-references

Computed from the citations in the text of 26 CFR.

Code sections it cites

Regulations it cites

Cited by 2 other regulations

Amendment history

From the source citation at the end of the section, newest first. T.D. is a Treasury decision; FR is the Federal Register.

  1. Issued by T.D. 8712 (62 FR 2302)

Where it sits in 26 CFR

  1. Subchapter A Income tax
  2. Part 1 Income taxes
  3. Tax Exemption Requirements for State and Local Bonds

Nearby sections