FY25 Tax Exempt Bonds - Private Use Questionnaire

PURPOSE:

Under federal tax law applicable to tax-exempt bonds, only a small portion of facilities or equipment financed or refinanced with the proceeds of the bonds may be used, leased, managed or operated by a non-qualified user. This questionnaire is intended to help with the collection and review of information in order to determine compliance with the private business use limits. The private business use limits apply for the entire term of the bonds (including any refunding bonds) and violation of private business use limits could result in the loss of the tax-exempt status of the bonds.


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INSTRUCTIONS:

Information on private business use of tax-exempt bond financed facilities and equipment can be located at either:


Tax Exempt Bond Compliance Policy

Private Use Business Primer


The questions set forth in this questionnaire relate only to buildings or equipment financed or refinanced (in whole or in part) with the proceeds of tax-exempt bonds. This questionnaire is required to be completed by each University of Georgia department. The Accounting Department will work with senior fiscal managers in each school/college/unit to evaluate activities identified and determine what/ if any additional steps are necessary.

 

Contact Information

 
 
 
 
 
 

Building Information

 
 
 
 

Private Use Questions

 

Example: Administrative offices, instructional classrooms, research labs, student dorms, etc.

 
 

Third parties would include individuals or companies that are external to UGA. This would not include other UGA Departments. Leasing/renting to external parties does create private business use of the building.

 

Normally these types of contracts would be handled by Auxiliary Services. Experiment Stations could have these as well.

 
 


This question is for Sponsored Research ONLY (Funds 20000 and 213xx). Do NOT include projects sponsored by a state or local government (Class code 62xxx and 63xxx).


Definitions:

  • Qualified User - state or local governmental unit and 501©(3) charitable entities. UGA is a qualified user.
  • Sponsor - any party other than the qualified user that is sponsoring the research. A corporate, industry, or federal government participant is likely to be a sponsor.
  • Basic Research - any original investigation for the advancement of scientific knowledge not having a specific commercial objective. For example, product testing supporting the trade or business of a specific nongovernmental person is not considered basic research.
 
 

Service or recharge centers are sometimes also referred to as “core labs” or “core facilities”. Please refer to our Service Center Policy for any questions.

 

Do NOT include Sponsored Research in this section. Sponsored Research should be included in #5 above.

 
 
 
 
 
 
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