S. 1245 (100th): High-Speed Intercity Rail Transportation Bond Financing Act of 1987

Introduced:
May 20, 1987 (100th Congress, 1987–1988)
Sponsor:
Sen. Lawton Chiles Jr. [D-FL]
Status:
Died (Referred to Committee)
See Instead:

H.R. 2618 (same title)
Referred to Committee — Jun 04, 1987

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on May 20, 1987, in a previous session of Congress, but was not enacted.

Progress
Introduced May 20, 1987
Referred to Committee May 20, 1987
Cosponsors
1 cosponsors (1D) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to authorize the issuance by States of tax-exempt bonds for high-speed intercity rail transportation projects under certain circumstances, and for other purposes.

Summary

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Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/20/1987--Introduced.
High-Speed Intercity Rail Transportation Bond Financing Act of 1987 - Amends the Internal Revenue Code to add to the category of tax-exempt facility bonds any bonds that are part of an issue 95 percent or more of whose net proceeds are used to provide high-speed intercity rail facilities to be owned by a governmental unit and made available to the general public.
Exempts such bonds from:
(1) the volume cap generally applicable to private activity bonds; and
(2) limitations on the use of bond proceeds for land acquisition.

House Republican Conference Summary

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