,,ii #aaf? ,,congress #a/ ,session ,s4 #icb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #bh1 #bjai,mr4 ,"y 7= himself1 ,ms4 ,cortez ,ma/o1 ,mr4 ,scott ( ,s\? ,c>ol9a1 & ,mr4 ,b5net7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = ! tax-exempt f9anc+ ( c]ta9 gov]nm5t-own$ build+s4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,public ,build+s ,r5ewal ,act ( #bjai4 #b4 ,tax-exempt f9anc+ ( qualifi$ gov]nm5t build+s 7a7 ,9 g5]al ,section #adb7;a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ or at ! end ( p>agraph 7#ad71 by /rik+ ! p]iod at ! end ( p>agraph 7#ae7 & ins]t+ 1 or1 & by add+ at ! end ! foll[+ new p>agraph3 7#af7 qualifi$ gov]nm5t build+s4 4 7b7 ,qualifi$ gov]nm5t build+s ,section #adb ( su* ,code is am5d$ by add+ at ! end ! foll[+ new subsection3 7n7 ,qualifi$ gov]nm5tal build+s 7#a7 ,9 g5]al ,= purposes ( subsection 7a77#af71 ! t]m qualifi$ gov]nm5tal build+s means any build+ or facility t consi/s ( "o or m ( ! foll[+3 7,a7 ,an elem5t>y s*ool or a second>y s*ool 7)9 ! mean+s giv5 su* t]ms by section #adaja ( ! ,elem5t>y & ,second>y ,education ,act ( #aife 7#bj ,u4,s4,c4 #hhja71 z 9 effect on ! date ( ! enactm5t ( ?is subsection74 7,b7 ,a facility ( a ,/ate college or univ]sity us$ = educational purposes4 7,c7 ,a libr>y ma9ta9$ =1 & op5 to1 ! g5]al public4 7,d7 ,a c\rt ( law4 7,e7 ,a hospital or heal? c>e facility4 7,f7 ,a laboratory or rese>* facility us$ by a gov]nm5tal unit4 7,g7 ,a public safety facility 7includ+ police1 fire1 enhanc$ #iaa1 em]g5cy or disa/] managem5t1 & ambulance or em]g5cy m$ical s]vice facilities & jails & correctional facilities74 7,h7 ,an (fice = employees ( a gov]nm5tal unit4 ,su* t]m %all include any equipm5t1 functionally relat$ & subord9ate facility1 or l& 7& any real prop]ty rights appurt5ant !reto7 ) respect to any su* build+ or facility4 7#b7 ,specifically exclud$ facilities ,su* t]m %all n include-- 7,a7 a build+ or facility ! prim>y purpose ( :i* is "o ( ! foll[+3 retail food & bev]age s]vices1 or ! provision ( recreation or ent]ta9m5t1 or 7,b7 any build+ or facility t includes any ( ! foll[+3 any private or comm]cial golf c\rse1 c\ntry club1 massage p>lor1 t5nis club1 skat+ facility 7includ+ roll] skat+1 skatebo>d1 & ice skat+71 racquet sports facility 7includ+ any h&ball or racquetball c\rt71 hot tub facility1 suntan facility1 racetrack1 conv5tion c5t]1 or sports /adium or ar5a4 7#c7 ,national limitation on am\nt ( tax-exempt f9anc+ = qualifi$ gov]nm5tal build+ 7,a7 ,national limitation ,! aggregate am\nt allocat$ by ! ,secret>y "u subp>agraph 7,c7 %all n exce$ #e1jjj1jjj1jjj4 7,b7 ,en=cem5t ( national limitation ,an issue %all n be treat$ z an issue describ$ 9 subsection 7a77#af7 if ! aggregate face am\nt ( bonds issu$ pursuant to su* issue = any qualifi$ gov]nm5tal build+ 7:5 add$ to ! aggregate face am\nt ( bonds previ\sly s issu$ = su* facility7 exce$s ! am\nt allocat$ to su* qualifi$ gov]nm5tal build+ "u subp>agraph 7,c74 7,c7 ,allocation by ! ,secret>y ,! ,secret>y %all allocate1 on a fir/ come1 fir/ s]ve basis1 a portion ( ! am\nt describ$ 9 subp>agraph 7,a7 to a qualifi$ gov]nm5tal build+ if ! ,secret>y det]m9es t-- 7i7 ! application = f9anc+ ( su* qualifi$ gov]nm5tal build+ meets ! requirem5ts set =? 9 subp>agraph 7,d71 & 7ii7 ! am\nt ( ! allocation reque/$1 if allocat$ by ! ,secret>y1 w\ld n cause ! national limitation set =? 9 subp>agraph 7,a7 to be exce$$4 7,d7 ,applications = f9anc+ ,an application = f9anc+ a qualifi$ gov]nm5tal build+ meets ! requirem5ts ( ?is subp>agraph if su* application includes-- 7i7 ! am\nt ( ! allocation reque/$1 7ii7 ! "n ( ! gov]nm5tal unit t w own ! project1 toge!r ) complete contact in=mation1 7iii7 a description ( ! project z a :ole & ! propos$ organizational & legal /ructure ( ! project1 7iv7 a timel9e %[+ ! e/imat$ />t & completion dates = ea* major phase or mile/one ( project developm5t & an indication ( ! curr5t /atus ( mile/ones on ?is timel9e1 includ+ all necess>y p]mits & environm5tal approvals1 7v7 a /atem5t ( anticipat$ s\rces & uses ( funds = ! project1 & 7vi7 ! foll[+ decl>ation sign$ by an individual :o has p]sonal k ( ! relevant facts & circum/ances3 8,"u p5alties ( p]jury1 ,i decl>e t ,i h exam9$ ?is docum5t &1 to ! be/ ( my k & belief1 ! docum5t conta9s all ! relevant facts relat+ to ! docum5t1 & su* facts are true1 correct1 & complete40 7,e7 ,use ( allocation 9 a timely mann] ,if1 foll[+ an allocation by ! ,secret>y "u subp>agraph 7,c71 bonds are n issu$ 9 ! am\nt ( su* allocation aft] ! date t is #b ye>s aft] ! date ( su* allocation1 !n ! unus$ portion ( ! allocation %all be )drawn1 unless ! ,secret>y1 ^u a %[+ ( good cause by ! applicant1 grants an ext5sion ( su* date4 7#d7 ,exception = curr5t refund+ bonds ,p>agraph 7#c7 %all n apply to any bond 7or s]ies ( bonds7 issu$ to refund a bond issu$ "u subsection 7a77#af7 if-- 7,a7 ! 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 7,b7 ! am\nt ( ! refund+ bond does n exce$ ! out/&+ am\nt ( ! refund$ bond1 & 7,c7 ! refund$ bond is r$eem$ n lat] ?an #ij days aft] ! date ( ! issuance ( ! refund+ bond4 ,= purposes ( subp>agraph 7,a71 av]age maturity %all be det]m9$ 9 accordance ) section #adg7;b77#b77;,a74 7#e7 ,(fice space ,subsection 7b77#b7 %all n apply ) respect to any qualifi$ gov]nm5tal build+4 7#f7 ,no depreciation or inve/m5t cr$it ,no depreciation1 amortization1 or bus9ess cr$it "u section #ch %all be all[$ ) respect to any facility describ$ 9 subsection 7a77#af7 :i* has be5 f9anc$ by ! net proce$s ( ! issue4 4 7c7 ,gov]nm5tally own$ requirem5t ,section #adb7;b77#a77;,a7 ( su* ,code is am5d$ by /rik+ or 7#ab7 & ins]t+ 7#ab71 or 7#af74 7d7 ,exemption f volume cap on private activity bonds ,section #adf7;g77#c7 ( su* ,code is am5d$ by /rik+ or 7#ae7 & ins]t+ 7#ae71 or 7#af74 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to bonds issu$ aft] ! date ( ! enactm5t ( ?is ,act4