§ 1400U-2. Recovery zone economic development bonds
(b)
Recovery zone economic development bond
(1)
In general
For purposes of this section, the term “recovery zone economic development bond” means any build America bond (as defined in section
54AA
(d)) issued before January 1, 2011, as part of issue if—
(2)
Limitation on amount of bonds designated
The maximum aggregate face amount of bonds which may be designated by any issuer under paragraph (1) shall not exceed the amount of the recovery zone economic development bond limitation allocated to such issuer under section
1400U–1.
(c)
Qualified economic development purpose
For purposes of this section, the term “qualified economic development purpose” means expenditures for purposes of promoting development or other economic activity in a recovery zone, including—