# Treas. Reg. § 1.147(b)-1: Bond maturity limitation-treatment of working capital.

Source: eCFR as of 2026-10-19 <https://www.ecfr.gov/current/title-26/section-1.147(b)-1>. Interprets 26 U.S.C. § 147.

Section 147(b) does not apply to proceeds of a private activity bond issue used to finance working capital expenditures. 

[T.D. 8476, 58 FR 33515, June 18, 1993]