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Revenue Bond of the City of New York, issued 3. June 1858, signed by mayor Daniel F. Tiemann. A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue-generating entity associated with the purpose of the bonds, rather than from a tax.
An industrial revenue bond (IRB), also formerly known as an Industrial Development Bond (IDB), is a unique type of revenue bond organized by a state or local government. The bond issue is sponsored by a government entity but the proceeds are directed to a private, for-profit business.
Internal Revenue Code section 103(a) is the statutory provision that excludes interest on municipal bonds from federal income tax. [15] As of 2004 [update] , other rules, however, such as those pertaining to private activity bonds, are found in sections 141–150, 1394, 1400, 7871.
For many municipalities in the United States, property taxes are the primary source of revenue. The amount of forgone tax revenue as a result of these tax-exempt land parcels is significant. The president of the city council of Baltimore, MD, recently estimated that his city loses $120 million annually from these foregone taxes. [16]
A revenue bond is a special type of municipal bond distinguished by its guarantee of repayment solely from revenues generated by a specified revenue-generating entity associated with the purpose of the bonds. Revenue bonds are typically "non-recourse", meaning that in the event of default, the bond holder has no recourse to other governmental ...
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service.. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state, the District of Columbia, and Puerto Rico.
A toll revenue bond is a financial promissory note usually issued to generate funds for the construction and/or operation of a public accommodation such as an expressway, bridge, or tunnel. Funds for the repayment are obtained through revenue raised through collection of tolls from users as a fare for passage.
It would have required voter approval for issuing revenue bonds exceeding $2 billion. Arguments in favor of the measure stated that it would require politicians to provide estimates of how much a project would cost, as well as give voters a say before taking on large debt.