Small-issue Industrial Revenue Bonds in the Seventh Federal Reserve District
On September 3, 1982 the Tax Equity and
Fiscal Responsibility Act of 1982 was signed
into law. In part, the act repealed the tax
exemption that had been available for smallissue
industrial revenue bonds (IRBs), effective
for obligations issued after 1986. Other
provisions of the act were intended to limit
the use of IRBs issued prior to 1986.
