[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3700 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 3700

  To amend the Internal Revenue Code of 1986 to extend qualified zone 
     academy bonds for 4 years and to reduce the private business 
          contribution requirement with respect to such bonds.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 7, 2017

  Mr. Kind (for himself and Mr. Kelly of Pennsylvania) introduced the 
 following bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend qualified zone 
     academy bonds for 4 years and to reduce the private business 
          contribution requirement with respect to such bonds.

    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 ``Investing in 21st Century Schools 
Act''.

SEC. 2. EXTENSION AND MODIFICATION OF QUALIFIED ZONE ACADEMY BONDS.

    (a) Extension.--Section 54E(c)(1) of the Internal Revenue Code of 
1986 is amended by striking ``and 2016'' and inserting ``2016, 2017, 
2018, 2019, and 2020''.
    (b) Reduction of Private Business Contribution Requirement.--
Section 54E(b) of such Code is amended by striking ``10 percent'' and 
inserting ``5 percent''.
    (c) Effective Date.--The amendments made by this section shall 
apply to obligations issued after the date of the enactment of this 
Act.
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