High-Speed Intercity Rail Transportation Bond Financing Act of 1987 - Amends the Internal Revenue Code to add to the category of tax-exempt facility bonds any bonds that are part of an issue 95 percent or more of whose net proceeds are used to provide high-speed intercity rail facilities to be owned by a governmental unit and made available to the general public.
Exempts such bonds from: (1) the volume cap generally applicable to private activity bonds; and (2) limitations on the use of bond proceeds for land acquisition.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Provisions of Measure Incorporated Into H.R.4333.
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