### Question
How does the law define specified private activity bond?


### Answer
Under *26 U.S.C. § 57*, **specified private activity bond** is defined as:

> any private activity bond (as defined in section 141) which is issued after August 7, 1986, and the interest on which is not includible in gross income under section 103

#### Citation:
  - *26 U.S.C. § 57*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter A-Determination of Tax Liability > PART VI-ALTERNATIVE MINIMUM TAX**

