7C.3 - DEFINITIONS.
7C.3 DEFINITIONS.
For the purposes of this chapter, unless the context otherwise
requires:
1. "Allocation" means that portion of the state ceiling which
is allocated and certified to a political subdivision hereby or by
the governor's designee pursuant to section 7C.8 with respect to an
issue of bonds for a specific project or purpose.
2. "Bond" or "private activity bond" means a private
activity bond as defined in section 141 of the Internal Revenue Code.
3. "Carryforward project" means a carryforward project or
carryforward purpose as defined in section 146(f) of the Internal
Revenue Code.
4. "First-time farmer" means a first-time farmer as defined
in section 147(c) of the Internal Revenue Code.
5. "Governor's designee" means the person, department, or
authority designated by the governor to administer this chapter.
6. "Internal Revenue Code" means the Internal Revenue Code as
defined in section 422.3.
7. "Political subdivision" means a political subdivision,
authority, or department of the state which is authorized under the
laws of the state to issue private activity bonds.
8. "Qualified mortgage bond" means a qualified mortgage bond
as defined in section 143(a) of the Internal Revenue Code.
9. "Qualified residential rental project bond" means a
qualified residential rental project bond as defined in section
142(d) of the Internal Revenue Code.
10. "Qualified small issue bond" means a qualified small
issue bond as defined in section 144(a) of the Internal Revenue Code.
11. "Qualified student loan bond" means a qualified student
loan bond as defined in section 144(b) of the Internal Revenue Code.
12. "State ceiling" means the same as defined in section
146(d) of the Internal Revenue Code. Section History: Recent Form
85 Acts, ch 225, § 5; 87 Acts, ch 171, § 2; 2005 Acts, ch 30, §1
Referred to in § 7C.12