One provision of H.R. 2014 would repeal the $150 million limit on section 501(C)(3) bonds. This is a change I have long sought, and I am grateful for my chairman's support for this change. It is my understanding that the intention of the provision is that bonds that meet the requirements of the bill will be eligible for tax-exempt treatment without being subject to the $150 million limitation. Furthermore, these bonds will not be taken into account with respect to other qualified section 501(C)(3) bonds that are subject to the $150 million limitation, which bonds may continue to be issued on a tax-exempt basis to finance and refinance expenditures as permitted under existing law.
Patrick Moynihan: “One provision of H.R. 2014 would repeal the $150 million limit on section 501(C)(3) bonds. This is a change I have long…”
Editor's note · Context
Discussing a provision of H.R. 2014 related to tax-exempt treatment of section 501(C)(3) bonds.
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