nonpurpose investment
Defined in 1 dictionary — U.S. Code
United States Code
26 U.S.C. § 143 — in this section
For purposes of this paragraph, the term “nonpurpose investment” has the meaning given such term by section 148(f)(6)(A).
26 U.S.C. § 148 — for purposes of this section
The term “nonpurpose investment” means any investment property which—
(i) is acquired with the gross proceeds of an issue, and
(ii) is not acquired in order to carry out the governmental purpose of the issue.