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  <bill>
    <number>6560</number>
    <updateDate>2022-02-03T06:02:23Z</updateDate>
    <updateDateIncludingText>2022-02-03T06:02:23Z</updateDateIncludingText>
    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
    <type>HR</type>
    <introducedDate>2012-09-25</introducedDate>
    <congress>112</congress>
    <constitutionalAuthorityStatementText><![CDATA[<pre>From the Congressional Record Online through the Government Publishing Office [<a href='http://www.gpo.gov'>www.gpo.gov</a>]By Mr. COFFMAN of Colorado:H.R. 6560.Congress has the power to enact this legislation pursuantto the following:Article I, Sec. 8, Clause 3, the Commerce Clause, of theUnited States ConstitutionThis states that ``Congress shall have power to . . .regulate commerce with foreign nations, and among the severalstates, and with the Indian tribes.'' The power to regulatecommerce among the several states is the power to defineconditions and rules for commercial transactions, and theregulation of the prices and terms of sale. Amendingregulations which govern the monetary policies municipalitiesmay use for issuing bonds affects the ability of thesemunicipalities to conduct business transactions withinvestors, and thus falls under the commerce clause.[Page H6284]</pre>]]></constitutionalAuthorityStatementText>
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        <name>Ways and Means Committee</name>
        <chamber>House</chamber>
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            <name>Referred to</name>
            <date>2012-09-25T14:03:43Z</date>
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        <actionDate>2012-09-25</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
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    <sponsors>
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        <bioguideId>C001077</bioguideId>
        <fullName>Rep. Coffman, Mike [R-CO-6]</fullName>
        <firstName>Mike</firstName>
        <lastName>Coffman</lastName>
        <party>R</party>
        <state>CO</state>
        <district>6</district>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Income tax exclusion</name>
        </item>
        <item>
          <name>Securities</name>
        </item>
        <item>
          <name>State and local finance</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
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    <summaries>
      <summary>
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        <actionDate>2012-09-25</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2012-11-06T13:19:27Z</updateDate>
        <text><![CDATA[ <p>Local Schools and Infrastructure Improvement Act of 2012 - Amends the Internal Revenue Code to allow a second advance refunding of an original tax-exempt private activity bond. </p>]]></text>
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    </summaries>
    <title>Local Schools and Infrastructure Improvement Act of 2012</title>
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        <titleType>Short Titles as Introduced</titleType>
        <title>Local Schools and Infrastructure Improvement Act of 2012</title>
      </item>
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        <titleType>Display Title</titleType>
        <title>Local Schools and Infrastructure Improvement Act of 2012</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to allow an additional advance refunding for certain tax-exempt bonds.</title>
      </item>
    </titles>
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        <type>Introduced in House</type>
        <date>2012-09-25T04:00:00Z</date>
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    <latestAction>
      <actionDate>2012-09-25</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
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    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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