AMT BOND Definition

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AMT BOND is a municipal bond issue used to fund qualified private activity projects such as pollution control facilities or student loans. AMT bonds are taxed as public-purpose municipals, except when an entity pays the alternative minimum tax, in which case the bond is taxed at the full AMT rate.

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CONSTANT DOLLAR is when the dollar amount is adjusted for inflation.

PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

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