Page:United States Statutes at Large Volume 100 Part 3.djvu/862

 100 STAT. 2670

PUBLIC LAW 99-514—OCT. 22, 1986

OJ i:; by substituting "25 percent" for "10 percent" each place it ^lii f xJt appears, and (B) section 149(b) of the 1986 Code shall not apply. (8)(A) The amendments made by section 1301 shall not apply "* to any bond to which section 629(a)(1) of the Tax Reform Act of f 1984 applies, but such bond shall be treated as a private activity bond for purposes of section 146 of the 1986 Code. (B) Section 629 of the Tax Reform Act of 1984 is amended— (i) in subsection (c)(2), by striking out "$625,000,000" and inserting in lieu thereof "$911,000,000", (ii) in subsection (c)(3), by adding at the end thereof the following new subparagraphs: "(D) Improvements to existing generating facilities. "(E) Transmission lines. use "(F) Electric generating facilities.", and (iii) in subsection (a), by adding at the end thereof the ' following new sentence: ' The preceding sentence shall be applied by inserting 'and a rural electric cooperative utility' after 'regulated public utility' but only if not more than 1 •II percent of the load of the public power authority is sold to such rural electric cooperative utility." (h) CERTAIN POLLUTION BONDS.—Any bond which is treated as described in section 103(b)(4)(F) of the 1954 Code by reason of section 13209 of the Consolidated Omnibus Budget Reconciliation Act of 1985 shall be treated as an exempt facility bond for purposes of part IV of subchapter B of chapter 1 of the 1986 Code, and section 147(d) of the 1986 Code shall not apply to such bond. (i) TRANSITION RULE FOR AGGREGATE LIMIT PER TAXPAYER.—For

purposes of section 144(a)(10) of the 1986 Code, tax increment bonds described in section 1869(c)(3) of this Act which are issued before August 16, 1986, shall not be taken into account under subparagraph (B)(ii) thereof. (j) EXTENSION OF ADVANCE REFUNDING EXCEPTION FOR QUALIFIED

PUBLIC FACILITY.—Paragraph (4) of section 631(c) of the Tax Reform Act of 1984 is amended— (1) by striking out "or the Dade County, Florida, airport" in the last sentence, and (2) by adding at the end thereof the following new sentence: "In the case of refunding obligations not to exceed $40,000,000 with respect to the Dade County, Florida, airport, the first sentence of this paragraph shall be applied by substituting 'December 31, 1987' for 'December 31, 1984' and the amendments made by section 1301 of the Tax Reform Act of 1986 shall not apply." (k) EXPANSION OF EXCEPTION FOR RIVER PLACE PROJECT.—Section

1104 of the Mortgage Subsidy Bond Tax Act of 1980, as added by the Tax Reform Act of 1984, is amended— (1) by striking out "December 31, 1984," in subsection (p) and inserting in lieu thereof "December 31, 1984 (other than obligations described in subsection (r)(l)),", and (2) by striking out "$55,000,000," in subsection (r)(l)(B) and inserting in lieu thereof "$110,000,000 of which $55,000,000 must be redeemed no later than November 1, 1987". (1) CERTAIN REFUNDINGS.—Section 628(g) of the Tax Reform Act of 1984 (and the amendments made by section 1301 of this Act) shall not apply to any refunding obligation if the refunded issue was approved by a city building commission on April 29, 1982, and was

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