To provide for financing of certain recreational facilities in the White Mountain National Forest.

Provides for the issuance of exempt facility bonds the proceeds of which are to be used to provide sports facilities located in, or in the immediate vicinity of, the White Mountain National Forest as part of a single recreational complex located in one town, provided that a portion of the facilities are described in a resolution adopted by a State industrial development authority on July 17, 1985. Requires such resolution to be treated as if it describes all of the sports facilities in or to be in such recreational complex and such facilities to be treated as if they were a single facility the acquisition and construction of which began before September 2, 1972, and which is not now substantially complete.