To amend the Internal Revenue Code of 1986 to permit the issuance of tax-exempt bonds for the economic development of distressed communities.
Economic Revitalization Act of 1996 - Amends the Internal Revenue Code to provide a tax-exemption for distressed community economic development bonds. Excepts 50 percent of such bonds from the volume cap. Allows a deduction for such bonds as qualified tax-exempt obligations.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E13)
Referred to the House Committee on Ways and Means.
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