A bill to amend the Internal Revenue Code of 1954 with respect to State or local government obligations issued to finance certain beverage container facilities the construction of which is made necessary by an anti-disposable beverage container law.

Amends the Internal Revenue Code to exclude from gross income interest on industrial development bonds the proceeds of which are to be used to provide for the construction, reconstruction, erection, or acquisition of a beverage container facility used in connection with a law prohibiting or discouraging the sale of beverages in nonreturnable containers.