Page:United States Statutes at Large Volume 100 Part 3.djvu/852

 100 STAT. 2660

PUBLIC LAW 99-514—OCT. 22, 1986 fg^ft

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(A) The requirement that 95 percent or more of the net proceeds of an issue are to be used for a purpose described in section 103(b)(4) or (5) of such Code in order for section 103(b)(4) or (5) of such Code to apply, including the application of section 142(b)(2) of the 1986 Code (relating to limitation on office space). (B) The requirement that 95 percent or more of the net proceeds of an issue are to be used for a purpose described in section 1030t)X6XA) of the 1954 Code in order for section 103(b)(6)(A) of such Code to apply. (C) The requirements of section 143 of the 1986 Code (relating to qualified mortgage bonds and qualified veterans' mortgage bonds) in order for section 103AOt)X2) of the 1954 Code to apply. (D) The requirements of section 144(a)(ll) of the 1986 Code (relating to limitation on acquisition of depreciable farm property) in ordei* for section 1030t)X6XA) of the 1954 Code to apply. (E) The requirements of section 1470t)) of the 1986 Code (relating to maturity may not exceed 120 percent of economic life). (F) The requirements of section 147(0 of the 1986 Code (relating to public approval required for private activity bonds). (G) The requirements of section 147(g) of the 1986 Code (relating to restriction on issuance costs financed by issue). (H) The requirements of section 148 of the 1986 Code (relating to arbitrage). (I) The requirements of section 149(e) of the 1986 Code (relating to information reporting). (J) The provisions of section 1500t)) of the 1986 Code (relating to changes in use).

(2) CERTAIN REQUIREMENTS APPLY ONLY TO BONDS ISSUED AFTER

DECEMBER 31, 1986.—In the case of subparagraphs (F) and (I) of paragraphs (1), paragraph (1) shall be applied by substituting "December 31, 1986" for "August 15, 1986". (3) APPLICATION OF VOLUME CAP.—Except as provided in section 1315, any bond to which this subsection applies shall be treated as a private activity bond for purposes of section 146 of the 1986 Code if such bond would have been taken into account under section 103(n) or 103A(g) of the 1954 Code (determined -'' without regard to any carryforward election) were such bond issued before August 16, 1986. (4) APPLICATION OF PROVISIONS.—For purposes of applying the

requirements referred to in any subparagraph of paragraph (1) or of subsection (a)(3) or 0^X3) of section 1313 to any bond, such bond shall be treated as described in the subparagraph of section 141(d)(l) of the 1986 Code to which the use of the proceeds of such bond most closely relates. (c) SPECIAL RULES FOR CERTAIN GOVERNMENT BONDS ISSUED AFTER AUGUST 15, 1986.—

(1) IN GENERAL.—In the case of any bond described in paragraph (2)— (A) section 1311(a) and (c) and subsection (b) of this '* section shall be applied by substituting "August 31, 1986" for "August 15, 1986" each place it appears.

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