7C.2  Declaration of intent.

It is the intention of the general assembly in enacting this chapter to:

1.  Implement section 146 of the Internal Revenue Code by providing a different formula for allocating the state ceiling among the various governmental units which are authorized to issue private activity bonds under the laws of this state.

2.  Maximize the availability of the state ceiling to the issuers of private activity bonds within the state and thereby maximize the economic benefit to the citizens of the state from the issuance of private activity bonds.

Section History: Recent form

  85 Acts, ch 225, § 4; 87 Acts, ch 171, § 1

Internal References

  Referred to in § 7C.12

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