To amend the Internal Revenue Code of 1986 to modify the private business use requirements for bonds issued for lead service line replacement projects.
About This Bill
Committee
Latest Action · March 9, 2023
Read twice and referred to the Committee on Finance.
Financing Lead Out of Water Act of 2023
This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.
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