To amend the Internal Revenue Code of 1986 to extend qualified zone academy bonds for 2 years and to reduce the private business contribution requirement with respect to such bonds, and for other purposes.

Bill: 113-hr-5347
Sponsor: full_name: Rep. Kind, Ron [D-WI-3]
Introduced: 2014-07-31
Policy area: Taxation
Subjects: Building construction

Education of the disadvantaged

Educational facilities and institutions

Elementary and secondary education

Income tax credits

Securities
Latest action: action_date: 2014-07-31
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2014-07-31
action_desc: Introduced in House
text: <p>Amends the Internal Revenue Code, with respect to qualified zone academy bonds, to: (1) extend through 2015 the national limitation amount for such bonds, and (2) reduce from 10% to 5% of bond proceeds the required contribution amount for private businesses.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 5347 IN THE HOUSE OF REPRESENTATIVES July 31, 2014 Mr. Kind (for himself and Mr. Kelly of Pennsylvania ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to extend qualified zone academy bonds for 2 years and to reduce the private business contribution requirement with respect to such bonds, and for other purposes.

1. Extension and modification of qualified zone academy bonds (a) Extension Paragraph (1) of section 54E(c) of the Internal Revenue Code of 1986 is amended by striking and 2013 and inserting 2013, 2014, and 2015 . (b) Reduction of private business contribution requirement Subsection (b) of section 54E of such Code is amended by striking 10 percent and inserting 5 percent . (c) Effective date The amendments made by subsections (a) and (b) shall apply to obligations issued after December 31, 2013. (d) Technical correction and conforming amendment (1) In general Clause (iii) of section 6431(f)(3)(A) of such Code is amended— (A) by striking 2011 and inserting years after 2010 , and (B) by striking of such allocation and inserting of any such allocation . (2) Effective date The amendments made by this subsection shall take effect as if included in section 310 of the American Taxpayer Relief Act of 2012.