To amend the Internal Revenue Code of 1986 to exempt the full amount of bonds issued for government-owned high-speed intercity rail facilities from the State volume cap on private activity bonds and to require reporting of certain income and real property taxes.

failedUnited States· United States Congress· EN

Introduced

22 July 1992

Last action

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Status

On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 48 - 369 (Roll no. 328).

Summary

Amends the Internal Revenue Code to provide a complete tax exemption from the State volume cap (currently a 75 percent tax exemption) for bonds used to finance government-owned high-speed intercity rail facilities. Requires information reporting on refunds of real property taxes.

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Documents

3 official files

Reported in House (text)

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Reported in House (text)
Reported in House · EN
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Introduced in House (text)
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Introduced in House
summary · EN · 22 July 1992
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Sources

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Official source: https://www.congress.gov/bill/102nd-congress/house-bill/5653
Open data entity: https://api.congress.gov/v3/bill/102/hr/5653