[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 827 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 827

 To amend the Internal Revenue Code of 1986 to permanently extend the 
               treatment of qualified small issue bonds.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 1993

  Mr. Coyne (for himself, Mr. Rangel, Mr. Matsui, Mrs. Kennelly, Mr. 
   Thomas of California, Mr. Jacobs, Mr. Sundquist, Mr. Cardin, Mr. 
  Grandy, Mr. Neal of Massachusetts, Mr. Houghton, Mr. Kopetski, Mr. 
Brewster, Mr. Jefferson, Mr. Santorum, Mr. Payne of Virginia, Mr. Shaw, 
Mr. McCrery, Mr. Levin, and Mr. McNulty) 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 permanently extend the 
               treatment of qualified small issue bonds.

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

SECTION 1. PERMANENT EXTENSION OF QUALIFIED SMALL ISSUE BONDS.

    (a) In General.--Subparagraph (B) of section 144(a)(12) of the 
Internal Revenue Code of 1986 is amended to read as follows:
                    ``(B) Bonds issued to finance manufacturing 
                facilities and farm property.--Subparagraph (A) shall 
                not apply to any bond issued as part of an issue 95 
                percent or more of the net proceeds of which are to be 
                used to provide--
                            ``(i) any manufacturing facility, or
                            ``(ii) any land or property in accordance 
                        with section 147(c)(2).''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to bonds issued after the date of the enactment of this Act.

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