S.Amdt. 4113
What it does: Adds SEC. __. PROHIBITION ON USING TAX-EXEMPT STATE AND LOCAL BONDS FOR CERTAIN FACILITIES wherever appropriate
Sen. Tom Coburn (R-OK)What it changes
1 change to H.R. 5771
Adds SEC. __. PROHIBITION ON USING TAX-EXEMPT STATE AND LOCAL BONDS FOR CERTAIN FACILITIES wherever appropriate
Adds a sectionInserted: SEC. __. PROHIBITION ON USING TAX-EXEMPT STATE AND LOCAL BONDS FOR CERTAIN FACILITIES.
Inserted: (a) In General.--Section 103(b) is amended by adding at the end the following new paragraph:
Inserted: "(4) Bond to finance certain facilities.--Any bond to finance a facility primarily used for gambling, a private or commercial golf course, a country club, a skybox or other private luxury box, or a stadium or arena for professional sports exhibitions or games.".
The amendment doesn't say where this goes; the clerk decides.
Original wording
At the appropriate place, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4113. Mr. COBURN submitted an amendment intended to be proposed by him to the bill H.R. 5771, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions and make technical corrections, to amend the Internal Revenue Code of 1986 to provide for the tax treatment of ABLE accounts established under State programs for the care of family members with disabilities, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
SEC. __. PROHIBITION ON USING TAX-EXEMPT STATE AND LOCAL BONDS FOR CERTAIN FACILITIES.
(a) In General.--Section 103(b) is amended by adding at the end the following new paragraph:
“(4) Bond to finance certain facilities.--Any bond to finance a facility primarily used for gambling, a private or commercial golf course, a country club, a skybox or other private luxury box, or a stadium or arena for professional sports exhibitions or games.”.
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Senate amendment submitted
December 12, 2014