[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6722 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6722

To amend the Internal Revenue Code of 1986 to limit the application of 
 tax exempt bond financing relating to newly included counties in the 
  Gulf Opportunity Zone to property, neither the acquisition of which 
 occurred, nor the construction, reconstruction, or renovations began, 
   prior to the enactment of the Housing Assistance Tax Act of 2008.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 31, 2008

Mr. Blumenauer (for himself, Mr. Murtha, Mr. Sam Johnson of Texas, and 
 Ms. Waters) 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 limit the application of 
 tax exempt bond financing relating to newly included counties in the 
  Gulf Opportunity Zone to property, neither the acquisition of which 
 occurred, nor the construction, reconstruction, or renovations began, 
   prior to the enactment of the Housing Assistance Tax Act of 2008.

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

SECTION 1. TAX EXEMPT BOND FINANCING RELATING TO NEWLY INCLUDED 
              COUNTIES IN GO ZONE LIMITED TO ACQUISITIONS, ETC., 
              OCCURRING AFTER ENACTMENT OF HOUSING ASSISTANCE TAX ACT 
              OF 2008.

    (a) In General.--Paragraph (8) of section 1400N(a) of the Internal 
Revenue Code of 1986 (as added by the Housing Assistance Tax Act of 
2008) is amended by inserting before the period at the end the 
following: ``, but only with respect to property for which neither the 
acquisition occurred, or the construction, reconstruction, or 
renovation was begun, before the date of the enactment of the Housing 
Assistance Tax Act of 2008''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect as if included in the provisions of the Housing Assistance 
Tax Act of 2008 to which it relates.
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