[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4880 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4880

 To amend the Internal Revenue Code of 1986 to permit the issuance of 
    tax-exempt bonds for air and water pollution control facilities.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 1, 1994

  Mr. McHale 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 
    tax-exempt bonds for air and water pollution control facilities.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Pollution Control Equipment 
Investment Act of 1994''.

SEC. 2. TAX-EXEMPT BONDS FOR AIR AND WATER POLLUTION CONTROL 
              FACILITIES.

    (a) In General.--Subsection (a) of section 142 of the Internal 
Revenue Code of 1986 (defining exempt facility bond) is amended by 
striking ``or'' at the end of paragraph (11), by striking the period at 
the end of paragraph (12) and inserting ``, or'', and by adding at the 
end the following new paragraph:
            ``(13) air or water pollution control facilities.''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to obligations issued after the date of the enactment of this 
Act.
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