To amend the Internal Revenue Code of 1986 to expand the types of equipment which may be acquired with tax-exempt financing by volunteer fire departments and to provide a comparable treatment for emergency medical service organizations.

Amends the Internal Revenue Code to permit the issuance of tax-exempt bonds by volunteer fire departments to acquire ambulances or other emergency response vehicles.

Treats a volunteer emergency medical service organization as if it were a volunteer fire department and such services were firefighting services for purposes of the tax-exempt bond rules.