To amend the Internal Revenue Code 1986 to permit the issuance of tax-exempt bonds for the economic development of distressed communities.
Economic Revitalization Act of 1997 - 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
Referred to the House Committee on Ways and Means.
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