### Question
What does qualified school construction bond mean?


### Answer
**Qualified school construction bond** has the following meaning in *26 U.S.C. § 54F*:

> any bond issued as part of an issue if—



(1) 100 percent of the available project proceeds of such issue are to be used for the construction, rehabilitation, or repair of a public school facility or for the acquisition of land on which such a facility is to be constructed with part of the proceeds of such issue,



(2) the bond is issued by a State or local government within the jurisdiction of which such school is located, and



(3) the issuer designates such bond for purposes of this section

#### Citation:
  - *26 U.S.C. § 54F*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART IV-CREDITS AGAINST TAX > Subpart I-Qualified Tax Credit Bonds**

