[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 2479 Introduced in Senate (IS)]







107th CONGRESS
  2d Session
                                S. 2479

 To amend the Internal Revenue Code of 1986 to include in the criteria 
  for selecting any project for the low-income housing credit whether 
          such project has high-speed Internet infrastructure.


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                   IN THE SENATE OF THE UNITED STATES

                              May 8, 2002

 Mr. Kerry (for himself and Mr. Hatch) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to include in the criteria 
  for selecting any project for the low-income housing credit whether 
          such project has high-speed Internet infrastructure.

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

SECTION 1. HIGH-SPEED INTERNET ACCESS FOR LOW-INCOME HOUSING CREDIT 
              PROJECTS.

    (a) In General.--Section 42(m)(1)(C)(iii) of the Internal Revenue 
Code of 1986 (relating to certain selection criteria must be used) is 
amended by inserting ``and whether the project has infrastructure 
permitting the use of high-speed Internet technology in each 
residential unit,'' after ``plan,''.
    (b) Effective Date.--The amendment made by this section shall apply 
to--
            (1) housing credit dollar amounts allocated after December 
        31, 2002, and
            (2) buildings placed in service after such date to the 
        extent paragraph (1) of section 42(h) of the Internal Revenue 
        Code of 1986 does not apply to any building by reason of 
        paragraph (4) thereof.
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