Economic Development Revenue Bond Act

Summary

Economic Development Revenue Bond Act - Amends the Internal Revenue Code to restrict the tax exclusion of interest on industrial development bonds to issues having an aggregate face amount of $50,000,000 or less, the proceeds of which are to be used for the acquisition, construction or improvement of land or depreciable property in certified economic development areas, or for the redemption of such issues. Provides for the annual certification by the Secretary of Commerce of qualified areas which meet the criteria and purpose of the Public Works and Economic Development Act. Allows the continued exclusion of industrial development bonds excludable before this Act where the bonds were issued or authorized before enactment, or where a governmental unit or other person has made specified types of financial commitments relating to such issues before enactment. Allows national banks to deal in and underwrite industrial development bonds for economic development areas.

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Timeline

1. 27 January 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 27 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 27 January 1977

  Open at official source

Sponsors

• Rep. Reuss, Henry S. [D-WI-5] · D · Sponsor
• Rep. Harrington, Michael J. [D-MA-6] · D · Cosponsor
• Rep. Rodino, Peter W., Jr. [D-NJ-10] · D · Cosponsor
• Rep. Delaney, James J. [D-NY-9] · D · Cosponsor
• Rep. Moakley, John Joseph [D-MA-9] · D · Cosponsor
• Rep. McKinney, Stewart B. [R-CT-4] · R · Cosponsor
• Rep. Nowak, Henry [D-NY-37] · D · Cosponsor
• Rep. Wolff, Lester L. [D-NY-6] · D · Cosponsor
• Rep. Metcalfe, Ralph H. [D-IL-1] · D · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-25] · R · Cosponsor
• Rep. Downey, Thomas J. [D-NY-2] · D · Cosponsor
• JOHN CONYERS · D · Cosponsor
• Rep. Blanchard, James [D-MI-18] · D · Cosponsor
• Rep. LaFalce, John J. [D-NY-36] · D · Cosponsor
• Rep. Eilberg, Joshua [D-PA-4] · D · Cosponsor
• Rep. Jeffords, James M. [R-VT-At Large] · I · Cosponsor
• Rep. Stokes, Louis [D-OH-21] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Economic Development Revenue Bond Act