Which of the following uses of proceeds from private activity bonds will most likely qualify those bonds as federally tax-exempt?
I. public airport runway
II. baseball stadium
III. multifamily housing project
IV. mass rail transit

Question

Quizplus · Accepted Answer

Private activity bonds that are used for public purposes such as public airport runways, multifamily housing projects, and mass rail transit systems are more likely to qualify as federally tax-exempt. Baseball stadiums, being primarily for private commercial use, typically do not qualify.

Which of the Following Uses of Proceeds from Private Activity