S. 3416 · 114th Congress
Modernizing American Manufacturing Bonds Act
- Stage
- In committee
- Sponsor
- Sherrod Brown
- Introduced
- 2016-09-28
- Latest action
- 2016-09-28 · Introduced in Senate
Summary
Modernizing American Manufacturing Bonds Act
This bill amends the Internal Revenue Code, with respect to qualified small issue bonds for manufacturing purposes, to: (1) expand the definition of "manufacturing facility" to include a facility which is used in the creation or production of intangible property and which is functionally related and subordinate to a facility located on the same site and financed with not more than 25% of bond proceeds, and (2) increase from $10 million to $30 million the maximum bond limitation.