H.R. 928 (103rd): To amend the Internal Revenue Code of 1986 to provide a full exemption from the volume cap ...

...on private activity bonds for bonds used to finance high-speed intercity rail facilities.

103rd Congress, 1993–1994. Text as of Feb 17, 1993 (Introduced).

Status & Summary | PDF | Source: GPO

HR 928 IH

103d CONGRESS

1st Session

H. R. 928

To amend the Internal Revenue Code of 1986 to provide a full exemption from the volume cap on private activity bonds for bonds used to finance high-speed intercity rail facilities.

IN THE HOUSE OF REPRESENTATIVES

February 17, 1993

Mr. COYNE 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 provide a full exemption from the volume cap on private activity bonds for bonds used to finance high-speed intercity rail facilities.

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

SECTION 1. BONDS FOR HIGH-SPEED INTERCITY RAIL FACILITIES FULLY EXEMPT FROM VOLUME CAP.

    (a) IN GENERAL- Paragraph (4) of section 146(g) of the Internal Revenue Code of 1986 (relating to exception for certain bonds) is amended by striking ‘75 percent of’.

    (b) EFFECTIVE DATE- The amendment made by subsection (a) shall apply to bonds issued after the date of the enactment of this Act.