A bill to amend the Internal Revenue Code of 1954 to provide that the 1,000,000 dollars small issue exemption from treatment as industrial development bonds shall be increased to $20,000,000 for issues for certain investments in areas of chronic unemployment and to $10,000,000 for all other issues and to provide that the capital expenditure limitation shall apply to all such small issues.

Summary

Amends the Internal Revenue Code to increase the amount of industrial development bonds which qualify as a small issue from $1,000,000 to $10,000,000 for purposes of the tax exemption for such issues. Increases such amount to $20,000,000 if the proceeds from such bonds are used to buy, construct, or improve industrial property located in areas of chronic unemployment. Applies capital expenditure rules to all such issues.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

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 · 6 May 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.