[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1913 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1913

 To amend the Internal Revenue Code of 1986 to permit the issuance of 
mortgage revenue bonds to finance the sale of certain newly constructed 
                          2-family residences.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 28, 1993

  Mr. Serrano (for himself, Mr. Blackwell, Mr. Conyers, Mr. Frank of 
Massachusetts, Mrs. Lowey, Mr. Rangel, and Mr. Schumer) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to permit the issuance of 
mortgage revenue bonds to finance the sale of certain newly constructed 
                          2-family residences.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. USE OF MORTGAGE REVENUE BONDS TO FINANCE SALE OF CERTAIN 
              NEWLY CONSTRUCTED 2-FAMILY RESIDENCES.

    (a) In General.--Paragraph (7) of section 143(k) of the Internal 
Revenue Code of 1986 (relating to treatment of residences with 2 to 4 
units) is amended by adding at the end the following new sentence:
        ``Subparagraph (B) shall not apply to any 2-family residence 
        which is a targeted area residence or is located in an area 
        designated pursuant to any Federal or State law as an economic 
        development zone or enterprise zone.''
    (b) Effective Date.--The amendments made by this section shall 
apply to bonds issued after the date of the enactment of this Act.

                                 <all>