[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 928 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 928

To amend the Internal Revenue Code of 1986 to provide a full exemption 
from the volume cap on private activity bonds for bonds used to finance 
                 high-speed intercity rail facilities.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 17, 1993

  Mr. Coyne 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 provide a full exemption 
from the volume cap on private activity bonds for bonds used to finance 
                 high-speed intercity rail facilities.

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

SECTION 1. BONDS FOR HIGH-SPEED INTERCITY RAIL FACILITIES FULLY EXEMPT 
              FROM VOLUME CAP.

    (a) In General.--Paragraph (4) of section 146(g) of the Internal 
Revenue Code of 1986 (relating to exception for certain bonds) is 
amended by striking ``75 percent of''.
    (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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