Synopsis of article:
Charitable corporations and other entities holding 501(c)(3) status under the Internal Revenue Code of 1986, as amended (“Code”), generally have had access to tax-exempt financing to pay for their capital projects. Although this access has been available in most states since the late 1960s or early 1970s, it was not until the early 1980s that large numbers of these entities (often referred to as charitable corporations) began accessing the tax-exempt bond and note market through state or local agencies empowered to issue tax-exempt debt on their behalf.
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