[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 1497 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 1497

  To amend the Internal Revenue Code of 1986 to allow tax-exempt bond 
          financing for fixed-wing emergency medical aircraft.


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                   IN THE SENATE OF THE UNITED STATES

                             July 22, 2009

  Ms. Cantwell (for herself and Mrs. Murray) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to allow tax-exempt bond 
          financing for fixed-wing emergency medical aircraft.

    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 FOR FIXED-WING EMERGENCY MEDICAL 
              AIRCRAFT.

    (a) In General.--Subsection (e) of section 147 of the Internal 
Revenue Code of 1986 (relating to no portion of bonds may be issued for 
skyboxes, airplanes, gambling establishments, etc.) is amended by 
adding at the end the following new sentence: ``The preceding sentence 
shall not apply to any fixed-wing aircraft equipped for, and 
exclusively dedicated to providing, acute care emergency medical 
services (within the meaning of 4261(g)(2)).''
    (b) Effective Date.--The amendment made by this section shall apply 
to obligations issued after the date of the enactment of this Act.
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