,,ii  #aae? ,,congress  #a/ ,session    
,s4 #ggc  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #bi1 #bjag,mr4    
,br[n 7= himself & ,mr4 ,p]due7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to modify c]ta9   
rules applicable to qualifi$ small issue
 manufactur+ bonds4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,mod]niz+     
,am]ican ,manufactur+ ,bonds ,act4  #b4 
,modifications to qualifi$ small issue  
bonds  7a7 ,manufactur+ ,facilities ,to 
,include ,production ( ,intangible      
,prop]ty & ,functionally ,relat$        
,facilities ,section #add7;a77#ab77;,c7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ to read z foll[s3  7,c7           
,manufactur+ facility ,= purposes ( ?is 
p>agraph-- 7i7 ,9 g5]al ,! t]m          
manufactur+ facility means any facility 
:i*--  7,i7 is us$ 9 ! manufactur+ or   
production ( tangible p]sonal prop]ty   
7includ+ ! process+ result+ 9 a *ange 9 

! condition ( su* prop]ty71  7,,ii7 is  
us$ 9 ! creation or production (        
intangible prop]ty :i* is describ$ 9    
section #aig7;d77#a77;,c77iii71 or      
7,,iii7 is functionally relat$ &        
subord9ate to a facility describ$ 9     
subclause 7,i7 or 7,,ii7 if su* facility
 is locat$ on ! same site z ! facility  
describ$ 9 subclause 7,i7 or 7,,ii74    
7ii7 ,c]ta9 facilities includ$ ,! t]m   
manufactur+ facility includes facilities
 t are directly relat$ & ancill>y to a  
manufactur+ facility 7det]m9$ )\t reg>d 
to ?is clause7 if--  7,i7 ^? facilities 
are locat$ on ! same site z !           
manufactur+ facility1 &  7,,ii7 n m ?an 
#be p]c5t ( ! net proce$s ( ! issue are 
us$ to provide ^? facilities4  7iii7    
,limitation on (fice space ,a rule      
simil> to ! rule ( section #adb7;b77#b7 
%all apply = purposes ( clause 7i74     
7iv7 ,limitation on refund+s = c]ta9    
prop]ty ,subclauses 7,,ii7 & 7,,iii7 (  
clause 7i7 %all n apply to any bond     
issu$ on or be=e ! date ( ! enactm5t ( !

 ,mod]niz+ ,am]ican ,manufactur+ ,bonds 
,act1 or to any bond issu$ to refund a  
bond issu$ on or be=e su* date 7o!r ?an 
a bond to :i* clause 7iii7 ( ?is        
subp>agraph 7z 9 effect be=e ! date ( ! 
enactm5t ( ! ,mod]niz+ ,am]ican         
,manufactur+ ,bonds ,act applies771 ei!r
 directly or 9 a s]ies ( refund+s4  4   
7b7 ,increase 9 limitations ,section    
#add7;a77#d7 ( su* ,code is am5d$-- 7#a7
 by /rik+ #aj1jjj1jjj 9 subp>agraph     
7,a77i7 & ins]t+ #cj1jjj1jjj1 &  7#b7 by
 /rik+ #aj1jjj1jjj 9 ! head+ & ins]t+   
#cj1jjj1jjj4  7c7 ,effective date ,!    
am5dm5ts made by ?is section %all apply 
to obligations issu$ aft] ! date ( !    
enactm5t ( ?is ,act4