A bill to amend the Internal Revenue Code of 1986 to expand the availability of industrial development bonds to facilities manufacturing intangible property.

Amends the Internal Revenue Code to: (1) qualify manufacturing facilities that create intangible property for tax-exempt bond financing; and (2) revise the definition of "manufacturing facility" for purposes of certain limitations on tax-exempt bond financing to include facilities which are functionally related and subordinate to a manufacturing facility.