Sec. 3. Credit to holders and issuers of Qualified Community College Bonds
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Section 54A of the Internal Revenue Code of 1986, as in effect on the day before repeal by Public Law 115–97 , is revived. Section 54A(d) of such Code is amended— by striking paragraph
(1)and inserting the following: The term qualified tax credit bond means a qualified community college bond which is part of an issue that meets requirements of paragraphs (2), (3), (4), (5), and (6). , and in paragraph (2), by striking subparagraph
(C)and inserting the following: For purposes of this paragraph, the term qualified purpose means a purpose specified in section 54(c)(3). . Section 6431 of the Internal Revenue Code of 1986, as in effect on the day before repeal by Public Law 115–97 , is revived. Section 6431(f) of such Code, as revived by paragraph (1), is amended by striking paragraphs
(2)and
(3)and inserting the following: For purposes of this subsection, the term specified tax credit bond means any qualified tax credit bond (as defined in section 54A(d)(1)) if the issuer of such bond makes an irrevocable election to have this subsection apply. . Subparagraph
(A)of section 6211(b)(4) of the Internal Revenue Code of 1986 is amended by striking and 6428A and inserting 6428A, and 6431 .
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Sec. 3
Credit to holders and issuers of Qualified Community College Bonds
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