### Question
What does qualified New York Liberty Bond mean?


### Answer
**Qualified New York Liberty Bond** has the following meaning in *26 U.S.C. § 1400L*:

> any bond issued as part of an issue if—


(A) 95 percent or more of the net proceeds (as defined in section 150(a)(3)) of such issue are to be used for qualified project costs,


(B) such bond is issued by the State of New York or any political subdivision thereof,


(C) the Governor or the Mayor designates such bond for purposes of this section, and


(D) such bond is issued after the date of the enactment of this section and before January 1, 2014

#### Citation:
  - *26 U.S.C. § 1400L*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter Y-Short-Term Regional Benefits > PART I-TAX BENEFITS FOR NEW YORK LIBERTY ZONE**

