A bill to amend the Internal Revenue Code of 1986 to extend and modify the tax credit for holders of qualified zone academy bonds.

Summary

Amends the Internal Revenue Code to modify the tax credit allowed to holders of qualified zone academy bonds to: (1) extend through 2007 the authority for issuing such bonds and the national limitation amounts for such bonds; (2) allocate, after 2005, the bond limitation among states based upon grant amounts received by such states for disadvantaged students under the Elementary and Secondary Education Act of 1965; (3) permit the use of such bonds for constructing public school facilities and for the acquisition of land for such facilities; (4) permit all taxpayers to qualify for the tax credit (currently restricted to banks, finance and insurance companies); and (5) allow the ownership of such bonds and the credit entitlement for holding such bonds to be separate.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 March 2006

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 March 2006

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 March 2006

  Open at official source

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