Revenue Rulings



Rev Rul. 2003-116, 2003 I.R.B.1083 (11/17/2003)PDF
This ruling concludes that a helicopter is not an airplane for purposes of section 147(e) of the Code which provides that a private activity bond is not a qualified bond if issued as part of an issue and any portion of the proceeds of such issue is to be used to provide any airplane, etc.