[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5347 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 5347

  To amend the Internal Revenue Code of 1986 to extend qualified zone 
     academy bonds for 2 years and to reduce the private business 
  contribution requirement with respect to such bonds, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 31, 2014

  Mr. Kind (for himself and Mr. Kelly of Pennsylvania) 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 extend qualified zone 
     academy bonds for 2 years and to reduce the private business 
  contribution requirement with respect to such bonds, and for other 
                               purposes.

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

SECTION 1. EXTENSION AND MODIFICATION OF QUALIFIED ZONE ACADEMY BONDS.

    (a) Extension.--Paragraph (1) of section 54E(c) of the Internal 
Revenue Code of 1986 is amended by striking ``and 2013'' and inserting 
``2013, 2014, and 2015''.
    (b) Reduction of Private Business Contribution Requirement.--
Subsection (b) of section 54E of such Code is amended by striking ``10 
percent'' and inserting ``5 percent''.
    (c) Effective Date.--The amendments made by subsections (a) and (b) 
shall apply to obligations issued after December 31, 2013.
    (d) Technical Correction and Conforming Amendment.--
            (1) In general.--Clause (iii) of section 6431(f)(3)(A) of 
        such Code is amended--
                    (A) by striking ``2011'' and inserting ``years 
                after 2010'', and
                    (B) by striking ``of such allocation'' and 
                inserting ``of any such allocation''.
            (2) Effective date.--The amendments made by this subsection 
        shall take effect as if included in section 310 of the American 
        Taxpayer Relief Act of 2012.
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