7C.4 Maximum amount of bonds.
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/ia/chapter-7c-private-activity-bond-allocation-act/7c-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The aggregate principal amount of bonds which are subject to section 146 of the Internal Revenue Code which may be issued by all political subdivisions during a calendar year shall not exceed the state ceiling for that calendar year, except as provided in section 7C.8.
Referred to in §7C.12