No Abortion Bonds Act
Bill: H.R.606 | Sponsor: Rep. Smith, Jason (R-MO)
Policy area: Taxation

Summary:
No Abortion Bonds Act
This bill denies a tax exclusion for the interest paid on state and local bonds that are used to provide a facility owned or used (for any purpose) by an abortion provider for more than 30 days during a year in which interest is paid on the bonds.
An entity is not considered an abortion provider solely as a result of performing abortions if (1) the pregnancy is the result of an act of rape or incest; or (2) a woman suffers from a physical disorder, physical injury, or physical illness that would, as certified by a physician, place the woman in danger of death unless an abortion is performed, including a life-endangering physical condition caused by or arising from the pregnancy itself.
The Department of the Treasury may exempt certain hospitals from being considered an abortion provider by making the name of the hospital available on Treasury's public website.

To amend the Internal Revenue Code of 1986 to impose Federal taxes on 
     bonds used to provide facilities owned by abortion providers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No Abortion Bonds Act''.

SEC. 2. INTEREST ON STATE AND LOCAL BONDS USED FOR FACILITIES OWNED BY 
              ABORTION PROVIDERS.

    (a) In General.--Section 103 of the Internal Revenue Code of 1986 
is amended--
            (1) in subsection (b), by adding at the end the following 
        new paragraph:
            ``(4) Bonds for facilities owned by abortion providers.--
        Any bond issued as part of an issue any of the net proceeds of 
        which are to be used to provide a facility owned by an abortion 
        provider or used (for any purpose) by an abortion provider for 
        more than 30 days during any calendar year during which 
        interest is paid on such bond.''; and
            (2) in subsection (c), by adding at the end the following 
        new paragraph:
            ``(3) Abortion provider.--
                    ``(A) In general.--For purposes of this section, 
                the term `abortion provider' means, with respect to an 
                issue of bonds--
                            ``(i) an entity that, as of the date of 
                        such issue, performs abortions, and
                            ``(ii) an entity if any affiliate of such 
                        entity is an entity described in clause (i).
                    ``(B) Exemption.--For purposes of this paragraph, 
                an entity shall not be considered an abortion provider 
                solely as a result of performing abortions--
                            ``(i) if the pregnancy is the result of an 
                        act of rape or incest, or
                            ``(ii) in the case where a woman suffers 
                        from a physical disorder, physical injury, or 
                        physical illness that would, as certified by a 
                        physician, place the woman in danger of death 
                        unless an abortion is performed, including a 
                        life-endangering physical condition caused by 
                        or arising from the pregnancy itself.
                    ``(C) Exemption for hospitals.--The Secretary may 
                deem that the term `abortion provider' does not include 
                a subsection (d) hospital (as such term is defined in 
                section 1886(d) of the Social Security Act) by making 
                the name of such hospital available on the public 
                internet website of the Treasury.''.
    (b) Effective Date.--The amendment made by this section shall apply 
with respect to bonds issued after the date of enactment of this Act.
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