S. 768 — A bill to amend the Internal Revenue Code to provide that certain research and development expenditures will not be taken into account for purposes of the "small issue exemption" from the industrial development bond rules.

Summary

Amends the Internal Revenue Code to provide that certain research and experimental expenditures will not be taken into account for purposes of the small-issue exemption from the industrial development bond rules which disallow a tax exclusion of the interest on such bonds.

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Legislative Actions

1981-03-23
Introduced in Senate
1981-03-23
Read second time and referred to Senate Committee on Finance.
1981-03-23
Subcommittee on Taxation and Debt Management took the following actions.
1981-03-24
Committee on Finance requested executive comment from OMB; Treasury Department.
1981-09-25
Subcommittee on Taxation and Debt Management. Hearings held.

A bill to amend the Internal Revenue Code to provide that certain research and development expenditures will not be taken into account for purposes of the "small issue exemption" from the industrial development bond rules.

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