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us/statute/26/57/a/5/C/vi/III — Exception for certain refunding bonds · Axiom

Exception for bonds issued in 2009 and 2010

(I) In general

(I)In general#

For purposes of clause (i), the term “private activity bond” shall not include any bond issued after December 31, 2008 , and before January 1, 2011 .

(II)Treatment of refunding bonds#

For purposes of subclause (I), a refunding bond (whether a current or advance refunding) shall be treated as issued on the date of the issuance of the refunded bond (or in the case of a series of refundings, the original bond).

(III)Exception for certain refunding bonds#

Subclause (II) shall not apply to any refunding bond which is issued to refund any bond which was issued after December 31, 2003 , and before January 1, 2009 .

in view

Whole section

▸rulespec code

Shown source

statutes/26/57.yaml

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This encoding covers the parent provision us/statute/26/57; no dedicated encoding exists for this exact provision yet.

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Rules

no_other_section_57_preference

Derived

source: 26 USC 57(a), bounded completed-preference domain

- name: no_other_section_57_preference
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 57(a), bounded completed-preference domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/57/a
            excerpt: the items of tax preference determined under this section are
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        completed_section_57_a_5_specified_private_activity_bond_interest >= 0
        and section_57_a_5_completed_interest_domain_is_satisfied
        and section_57_a_1_depletion_preference_is_zero
        and section_57_a_2_intangible_drilling_cost_preference_is_zero
        and section_57_a_6_pre_1987_depreciation_or_amortization_preference_is_zero
        and section_57_a_7_small_business_stock_preference_is_zero

section_57_a_5_specified_private_activity_bond_interest

Derived

source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference

- name: section_57_a_5_specified_private_activity_bond_interest
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/57#no_other_section_57_preference
            output: no_other_section_57_preference
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/57/a/5/A
            excerpt: >-
              Interest on specified private activity bonds reduced by any deduction (not allowable
              in computing the regular tax) which would have been allowable if such interest were
              includible in gross income.
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/57/a/5/C
            excerpt: >-
              For purposes of this part, the term “specified private activity bond” means any
              private activity bond (as defined in section 141) which is issued after August 7, 1986
              , and the interest on which is not includible in gross income under section 103.
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if no_other_section_57_preference:
          completed_section_57_a_5_specified_private_activity_bond_interest
        else:
          0

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Exception for bonds issued in 2009 and 2010

Official source

(I) In general

(I)In general#

For purposes of clause (i), the term “private activity bond” shall not include any bond issued after December 31, 2008 , and before January 1, 2011 .

(II)Treatment of refunding bonds#

(III)Exception for certain refunding bonds#

Subclause (II) shall not apply to any refunding bond which is issued to refund any bond which was issued after December 31, 2003 , and before January 1, 2009 .

in view

Whole section

▸rulespec code

Shown source

statutes/26/57.yaml

Displaying the canonical repository encoding.

This encoding covers the parent provision us/statute/26/57; no dedicated encoding exists for this exact provision yet.

View on GitHub

Rules

no_other_section_57_preference

Derived

source: 26 USC 57(a), bounded completed-preference domain

- name: no_other_section_57_preference
  kind: derived
  entity: TaxUnit
  dtype: Judgment
  period: Year
  source: 26 USC 57(a), bounded completed-preference domain
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us/statute/26/57/a
            excerpt: the items of tax preference determined under this section are
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        completed_section_57_a_5_specified_private_activity_bond_interest >= 0
        and section_57_a_5_completed_interest_domain_is_satisfied
        and section_57_a_1_depletion_preference_is_zero
        and section_57_a_2_intangible_drilling_cost_preference_is_zero
        and section_57_a_6_pre_1987_depreciation_or_amortization_preference_is_zero
        and section_57_a_7_small_business_stock_preference_is_zero

section_57_a_5_specified_private_activity_bond_interest

Derived

source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference

- name: section_57_a_5_specified_private_activity_bond_interest
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: 26 USC 57(a)(5), guarded completed tax-exempt-interest preference
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: import
          import:
            target: us:statutes/26/57#no_other_section_57_preference
            output: no_other_section_57_preference
            hash: sha256:local
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us/statute/26/57/a/5/A
            excerpt: >-
              Interest on specified private activity bonds reduced by any deduction (not allowable
              in computing the regular tax) which would have been allowable if such interest were
              includible in gross income.
        - path: versions[0].formula
          kind: definition
          source:
            corpus_citation_path: us/statute/26/57/a/5/C
            excerpt: >-
              For purposes of this part, the term “specified private activity bond” means any
              private activity bond (as defined in section 141) which is issued after August 7, 1986
              , and the interest on which is not includible in gross income under section 103.
  versions:
    - effective_from: '2026-01-01'
      effective_to: '2026-12-31'
      formula: |-
        if no_other_section_57_preference:
          completed_section_57_a_5_specified_private_activity_bond_interest
        else:
          0