H.R. 5829 · 113th Congress
To amend the Internal Revenue Code of 1986 to provide an exception for certain public-private research arrangements from the business use test for purposes of determining private activity bonds.
- Stage
- In committee
- Sponsor
- Daniel Lipinski
- Introduced
- 2014-12-10
- Latest action
- 2014-12-10 · Introduced in House
Summary
Amends the Internal Revenue Code to allow a tax exemption for private activity bond interest if the proceeds from such a bond are to be used for basic research (i.e., any original investigation for the advancement of scientific knowledge not having a specific commercial objective) at a government unit, a tax-exempt charitable organization, or a private organization that has a bona-fide contractual arrangement with a government unit or tax-exempt organization.