Page:United States Statutes at Large Volume 100 Part 3.djvu/859

 PUBLIC LAW 99-514—OCT. 22, 1986

100 STAT. 2667

(B) a State political subdivision took formal action on April 1, 1980, to commit development funds for such facility. For purposes of determining whether a bond issued as part of an issue for a facility described in the preceding sentence is an exempt facility bond for purposes of part IV of subchapter B of chapter 1 of the 1986 Code, "90 percent" shall be substituted for "95 percent" in section 142(a) of the 1986 Code. The aggregate face amount of bonds to which this paragraph applies shall not exceed $75,000,000. (6) A facility is described in this paragraph if^ (A) such facility is a wastewater treatment facility for .»: which site preparation commenced before September 1985, ' -• and (B) a parish council approved a service agreement with respect to such facility on December 4, 1985. The aggregate face amount of bonds to which this paragraph applies shall not exceed $120,000,000. (e) TREATMENT OF REDEVELOPMENT BONDS.—Any bond to which section 1317(6) of this Act applies shall be treated for purposes of this section as described in subsection (c)(D. SEC. 1316. PROVISIONS RELATING TO CERTAIN ESTABLISHED STATE PROGRAMS.
 * (a) CERTAIN LOANS TO VETERANS FOR THE PURCHASE OF LAND.—

(1) IN GENERAL.—A bond described in paragraph (2) shall be , treated as described in section 141(d)(l) of the 1986 Code, but subsections (a), (b), (c), and (d) of section 147 of such C!ode shall not apply to such bond. (2) BOND DESCRIBED.—A bond is described in this paragraph if— (A) such bond is a private activity bond solely by reason . ^.,.^ of section 141(c) of such Code, and (B) such bond is issued as part of an issue 95 percent or more of the net proceeds of which are to be used to carry ^ out a program established under State law to provide loans I to veterans for the purchsise of land and which has been in effect in substantially the same form during the 30-year period ending on July 18, 1984, but only if such proceeds are used to make loans or to fund similar obligations— '1. (i) in the same manner in which, (ii) in the same (or lesser) amount or multiple of acres per participant, and (iii) for the same purposes for which, J such program was operated on March 15, 1984. ^ (b) RENEWABLE ENERGY PROPERTY.—

(1) IN GENERAL.—A bond described in paragraph (2) shall be treated as described in section 141(d)(l) of the 1986 Code. (2) BOND DESCRIBED.—A bond is described in this paragraph if paragraph (1) of section 1030t>) of the 1954 Code would not (without regard to the amendments made by this title) have applied to such bond by reason of section 243 of the Crude Oil Windfall Profit Tax Act of 1980 if— (A) such section 243 were applied by substituting "95 percent or more of the net proceeds" for "substantially all of the proceeds" in subsection (a)(1) thereof, and

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