nonpurpose investment
Defined in 2 places of the United States Code.
For purposes of this paragraph, the term “nonpurpose investment” has the meaning given such term by section 148(f)(6)(A).
Source
- 1994–present26 U.S.C. § 143Internal Revenue Code · Mortgage revenue bonds: qualified mortgage bond and qualified veterans mortgage bond · in 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.
Source
- 1994–present26 U.S.C. § 148Internal Revenue Code · Arbitrage · for purposes of this section