A bill to amend the Internal Revenue Code of 1986 to exclude research facility bonds from the volume cap for qualified 501(c)(3) bonds.

Summary

Amends the Internal Revenue Code to exclude research facility bonds from the $150,000,000 limitation applicable to 501(c)(3) bonds (tax-exempt private activity bonds at least 95 percent of whose net proceeds are to be used only by a governmental unit or by a nonprofit charitable, religious, cultural, scientific, or educational entity (a 501(c) (3) organization)). Applies the exclusion to any bond issued as part of an issue 95 percent of whose proceeds will be used: (1) with respect to a research facility; or (2) to provide research equipment.

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

Timeline

1. 8 May 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 8 May 1987

   Introduced

   Introduced in Senate

   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 Senate

  summary · EN · 8 May 1987

  Open at official source

Sponsors

• Sen. Danforth, John C. [R-MO] · R · Sponsor
• Rep. Baucus, Max [D-MT-1] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Sanford, Terry [D-NC] · D · Sponsor
• Sen. Graham, Bob [D-FL] · D · Sponsor
• Sen. Wilson, Pete [R-CA] · R · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.