A government-approved short-term debt instrument for a company or entity, which allows for a tax exemption on the earnings, either at a local, state, or federal level (or a combination of these). It is an indirect way of the government injecting funds into the given entity. For example, a hospital requiring funds for its day to day operations may issue these government-approved commercial papers for a short period of time.
Related information about tax-exempt commercial paper:
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May 15, 2012 ... Tax-Exempt Commercial Paper / Equipment Financing Program. The California State University Office of the Chancellor, under the delegation ...
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- Tax-Exempt Commercial Paper: Definition from Answers.com
Tax-Exempt Commercial Paper An unsecured short-term loan, usually issued to finance short-term liabilities, that provides the debt holders (bondholders)
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Notes and tax-exempt commercial paper notes) are willing to accept a lower coupon because interest earned on tax-exempt bonds is exempt from taxation.
- Presentation to the University Committee on Planning and Budget
Oct 6, 2009 ... Use of tax-exempt commercial paper allows for timely funding of capital projects. > Use of taxable commercial paper allows management of ...
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Aug 19, 2009 ... 2009 Series B Ratings: Moody's: P-1. S&P: A-1+. Fitch: F1+. TAX-EXEMPT COMMERCIAL PAPER MEMORANDUM. MONTGOMERY COUNTY ...