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Internal Revenue Code of 1986

The main collection of federal tax laws in the United States, which includes rules about how certain types of bonds are taxed.

Private business use

A rule in tax law that limits how much a project funded by tax-exempt bonds can benefit private companies or individuals; exceeding this limit can cause the bonds to lose their tax-exempt status.

Tax-exempt bonds

Loans, often issued by state or local governments (municipalities), where the interest earned by the investor is not subject to federal income tax, making them a cheaper way for governments to borrow money for public projects.

Lead service line

A pipe made of lead that connects a public water main in the street to a building, providing drinking water to that property.

Public water system

A system that provides water to the public for human consumption through pipes or other constructed conveyances, serving at least 15 service connections or 25 people for at least 60 days a year.

National primary drinking water regulation for lead

A set of legally enforceable standards established by the Environmental Protection Agency (EPA) to limit the amount of lead allowed in public drinking water, aimed at protecting public health.