PBU Rules, Regulations and Guidance

To use our debt financed facilities at Purdue, private business use must adhere to state and federal rules and regulations. See below for IRS reference codes for private business use.

IRS ReferenceGuidanceDate
IRC 1.141General Definitions7/18/2016
IRC 1.141-2Private activity bond tests9/23/2002
IRC 1.141-3Definition of private business use10/27/2015
IRC 1.141-7Special Rules for Output Facilities11/27/2002
IRC 1.141-12Sale of assets financed with tax-exempt bonds (5)(c)10/27/2015
IRC 1.141-6Allocation and Accounting Rules10/27/2015
PLR 200323006Private activity bonds – private business use test (naming rights)11/22/2002
Rev Proc 97-13Conditions under which a management contract does not result in private use5/16/1997
Rev Proc 97-14Conditions under which a research agreement does not result in private business use (superceded by 2007-47)5/16/1997
Rev Proc 2001-39, 2001-2Definitions of capitation fee and per-unit fee – automatic increases in fees7/9/2001
Rev Proc 2007-47Conditions under which a research agreement does not result in private business use6/26/2007
Rev Proc 2016-44Conditions under which a management contract does not result in private business use (superseded by 2017-13)8/22/2016
Rev Proc 2017-13Clarifications around certain management contracts, especially in P3 contracts (clarifies and replaces 2016-44)1/17/2017
IR Bulletin  2014-67Adds to 97-13 Section 5.03(7) for certain five-year arrangements1/22/2015