Amends the Internal Revenue Code to provide a complete tax exemption from the State volume cap (currently a 75 percent tax exemption) for bonds used to finance government-owned high-speed intercity rail facilities.
Requires information reporting on refunds of real property taxes.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Reported by the Committee on Ways and Means. H. Rept. 102-702.
Reported by the Committee on Ways and Means. H. Rept. 102-702.
Placed on the Union Calendar, Calendar No. 395.
Mr. Gibbons moved to suspend the rules and pass the bill.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the chair announced that further proceedings on the motion would be postponed until July 28.
Considered as unfinished business.
Failed of passage/not agreed to in House: On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 48 - 369 (Roll no. 328).
Roll Call #328 (House)On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 48 - 369 (Roll no. 328).
Roll Call #328 (House)checking server…
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