[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 282 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 282

   To amend the Internal Revenue Code of 1986 to expand the types of 
equipment which may be acquired with tax-exempt financing by volunteer 
 fire departments and to provide a comparable treatment for emergency 
                     medical service organizations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 1995

  Mr. Jacobs 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 expand the types of 
equipment which may be acquired with tax-exempt financing by volunteer 
 fire departments and to provide a comparable treatment for emergency 
                     medical service organizations.

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

SECTION 1. EXPANSION OF EQUIPMENT OF VOLUNTEER FIRE DEPARTMENTS 
              ELIGIBLE FOR TAX-EXEMPT FINANCING.

    (a) In General.--Subparagraph (B) of section 150(e)(1) of the 
Internal Revenue Code of 1986 (relating to bonds of certain volunteer 
fire departments) is amended by striking ``or firetruck'' and inserting 
``firetruck, ambulance, or other emergency response vehicle''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to bonds issued after the date of the enactment of this Act.

SEC. 2. TREATMENT OF EMERGENCY MEDICAL SERVICE ORGANIZATIONS UNDER TAX-
              EXEMPT BONDS RULES.

    (a) In General.--Subsection (e) of section 150 of the Internal 
Revenue Code of 1986 is amended by redesignating paragraph (3) as 
paragraph (4) and by inserting after paragraph (2) the following new 
paragraph:
            ``(3) Comparable treatment for volunteer emergency medical 
        service organizations.--
                    ``(A) In general.--An organization which provides 
                volunteer emergency medical services shall be treated 
                for purposes of this subsection as if--
                            ``(i) such organization were a volunteer 
                        fire department, and
                            ``(ii) such services were firefighting 
                        services.
                    ``(B) Special rule.--For purposes of applying this 
                subsection to an organization described in subparagraph 
                (A) which does not provide firefighting services, 
                paragraph (2)(A) shall be applied by substituting 
                `other emergency medical services' for `other 
                firefighting services'.''
    (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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