A bill to amend the Internal Revenue Code of 1986 to modify certain rules applicable to qualified small issue manufacturing bonds.
Modernizing American Manufacturing Bonds Act
This bill amends the Internal Revenue Code, with respect to qualified small issue bonds for manufacturing purposes, to: (1) expand the definition of "manufacturing facility" to include a facility which is used in the creation or production of intangible property and which is functionally related and subordinate to a facility located on the same site and financed with not more than 25% of bond proceeds, and (2) increase from $10 million to $30 million the maximum bond limitation.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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