Sec. 90108. Certain water and sewage facility bonds exempt from volume cap on private activity bonds
154 words·~1 min read·
/bill/116/hr/2/rds/section-90108·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 146(g) is amended by striking and at the end of paragraph (3), striking the period at the end of paragraph
(4)and inserting , and , and inserting after paragraph
(4)the following new paragraph: any exempt facility bond issued as part of an issue described in paragraph
(4)or
(5)of section 142(a) if 95 percent or more of the net proceeds of such issue are to be used to provide facilities which— will be used— by a person who was, as of July 1, 2020, engaged in operation of a facility described in such paragraph, and to provide service within the area served by such person on such date (or within a county or city any portion of which is within such area), or will be used by a successor in interest to such person for the same use and within the same service area as described in subparagraph (A). .