Definitions for "Private activity bond"
Keywords:  pab, idb, nonpublic, taxable, stadium
A bond originally delivered by its issuer on or after August 8, 1986, with more than 10% of proceeds subject to private use or benefit. Private activity bond income is taxable, unless bonds are issued for a qualified purpose (see Qualified Private Activity).
a municipal bond which is either used entirely or partially for private purposes and is given federal tax-exempt status
a state or local bond issued to provide funds for private, nongovernmental activities such as building a sports stadium, industrial development, student loan financing, or low-income housing