[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4918 Introduced in House (IH)]







109th CONGRESS
  2d Session
                                H. R. 4918

To permit the issuance of tax-exempt bonds for air and water pollution 
                          control facilities.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 9, 2006

Mr. Brady of Texas introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
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 ``Clean Air and Water Investment Act 
of 2006''.

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 bonds) is amended by 
striking ``or'' at the end of paragraph (14), by striking the period at 
the end of paragraph (15) and inserting ``, or'', and by adding at the 
end the following new paragraph:
            ``(16) air or water pollution control facilities (within 
        the meaning of section 103 as in effect before the enactment of 
        the Tax Reform Act of 1986).''.
    (b) Effective Date.--The amendment made by this section shall apply 
to bonds issued after December 31, 2006.
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