,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #ece  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,febru>y #f1 #bjac    
,mr4 ,connolly introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to p]man5tly ext5d
 ! ,build ,am]ica ,bonds program4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,put ,am]ica ,back to ,"w ,act4  #b4    
,p]man5t ,ext5sion ( ,build ,am]ica     
,bonds  7a7 ,9 g5]al ,subp>agraph 7,b7 (
 section #ed;,,aa7d77#a7 ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 or aft] ! date ( ! enactm5t ( ! ,put   
,am]ica ,back to ,"w ,act1 aft] ,janu>y 
#a1 #bjaa14  7b7 ,r$uction 9 ,bond      
,hold] ,cr$it ,p]c5tage ,subsection 7b7 
( #ed;,,aa ( su* ,code is am5d$ by /rik+
 #ce p]c5t & ins]t+ #be p]c5t 7#ce p]c5t
 9 ! case ( bonds issu$ be=e ,janu>y #a1
 #bjaa74  7c7 ,paym5ts to issu]s  7#a7  
,9 g5]al ,section #fdca ( su* ,code is  
am5d$--  7,a7 by /rik+ issu$ be=e       
,janu>y #a1 #bjaa1 9 subsection 7a71 &  

7,b7 by /rik+ be=e ,janu>y #a1 #bjaa 9  
subsection 7f77#a77;,b7 & ins]t+ dur+ a 
p>ticul> p]iod4  7#b7 ,con=m+ am5dm5ts  
,subsection 7g7 ( section #ed;,,aa ( su*
 ,code is am5d$--  7,a7 by /rik+ be=e   
,janu>y #a1 #bjaa 9 ! matt] prec$+      
p>agraph 7#a71 &  7,b7 by /rik+ qualifi$
 bonds issu$ be=e #bjaa 9 ! head+ &     
ins]t+ c]ta9 qualifi$ bonds4  7d7       
,r$uction 9 p]c5tage ( paym5ts to issu]s
 ,subsection 7b7 ( section #fdca ( su*  
,code is am5d$ by /rik+ #ce p]c5t &     
ins]t+ #bh p]c5t 7#ce p]c5t 9 ! case (  
bonds issu$ be=e ,janu>y #a1 #bjaa74    
7e7 ,curr5t refund+s p]mitt$ ,subsection
 7g7 ( section #ed;,,aa ( su* ,code is  
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#c7 ,treatm5t ( curr5t      
refund+ bonds  7,a7 ,9 g5]al ,= purposes
 ( ?is subsection1 ! t]m qualifi$ bond  
includes any bond 7or s]ies ( bonds7    
issu$ to refund a qualifi$ bond if--    
7i7 ! av]age maturity date ( ! issue (  
:i* ! refund+ bond is a "p is n lat] ?an
 ! av]age maturity date ( ! bonds to be 

refund$ by su* issue1  7ii7 ! am\nt ( ! 
refund+ bond does n exce$ ! out/&+ am\nt
 ( ! refund$ bond1 &  7iii7 ! refund$   
bond is r$eem$ n lat] ?an #ij days aft] 
! date ( ! issuance ( ! refund+ bond4   
7,b7 ,applicable p]c5tage ,9 ! case ( a 
refund+ bond ref]r$ to 9 subp>agraph    
7,a71 ! applicable p]c5tage ) respect to
 su* bond "u section #fdca7;b7 %all be !
 l[e/ p]c5tage specifi$ 9 p>agraph 7#b7 
( su* section4  7,c7 ,det]m9ation (     
av]age maturity ,= purposes (           
subp>agraph 7,a77i71 av]age maturity    
%all be det]m9$ 9 accordance ) section  
#adg7;b77#b77;,a74  4  7f7 ,additional  
purposes ,subsection 7g7 ( section      
#ed;,,aa ( su* ,code1 z am5d$ by        
subsection 7e71 is am5d$ by add+ at !   
end ! foll[+ new p>agraphs3  7#d7 ,work+
 capital f9anc+s ,= purposes ( ?is      
subsection1 ! t]m qualifi$ bond includes
 any bond 7or s]ies ( bonds7 t is       
reasonably expect$ to be us$ = ! issu]'s
 op]at+ exp5ses z long z ! issue is     
limit$ to a maturity ( #ac mon?s or     

less4  7#e7 ,qualifi$ #eja7;c77#c7 bond 
,= purposes ( ?is subsection1 ! t]m     
qualifi$ bond includes any bond 7or     
s]ies ( bonds7 t is a qualifi$          
#eja7;c77#c7 bond 7z def9$ 9 section    
#ade74  4  7g7 ,cl>ification relat$ to  
levees & flood control projects         
,subp>agraph 7,a7 ( section             
#ed;,,aa7g77#b7 ( su* ,code is am5d$ by 
ins]t+ 7includ+ capital exp5ditures =   
levees & o!r flood control projects7    
aft] capital exp5ditures4  7h7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to obligations issu$ 
aft] ! date ( ! enactm5t ( ?is ,act4