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H.R. 3703 (114th): Investing in 21st Century Schools Act

The text of the bill below is as of Oct 7, 2015 (Introduced).

Source: GPO

I

114th CONGRESS

1st Session

H. R. 3703

IN THE HOUSE OF REPRESENTATIVES

October 7, 2015

(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.

1.

Short title

This Act may be cited as the Investing in 21st Century Schools Act.

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 2014 and inserting 2014, 2015, and 2016.

(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.