To amend the Internal Revenue Code of 1986 to provide an exception for certain public-private research arrangements from the business use test for purposes of determining private activity bonds.

Summary

Amends the Internal Revenue Code to allow a tax exemption for private activity bond interest if the proceeds from such a bond are to be used for basic research (i.e., any original investigation for the advancement of scientific knowledge not having a specific commercial objective) at a government unit, a tax-exempt charitable organization, or a private organization that has a bona-fide contractual arrangement with a government unit or tax-exempt organization.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 10 December 2014

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• Introduced in House (PDF)

  Introduced in House · EN · 10 December 2014

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• Introduced in House

  summary · EN · 10 December 2014

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