Page:United States Statutes at Large Volume 101 Part 2.djvu/1249

 PUBLIC LAW 100-203—DEC. 22, 1987

101 STAT. 1330-455

"(A) IN GENERAL.—The term 'nongovernmental output > property' shall not include any property which is to be converted to a use not in connection with an output facility. "(B) EXCEPTION.—Subparagraph (A) shall not apply to i any property which is part of the output function of a '( nuclear power facility. "(5) SPECIAL RULES.—In the case of a bond which is a private < activity bond solely by reason of this subsection— "(A) subsections (c) and (d) of section 147 (relating to limitations on acquisition of land and existing property) ( shall not apply, and si "(B) paragraph (8) of section 142(a) shall be applied as if it did not contain 'local'. '•c "(6) TREATMENT OF JOINT ACTION AGENCIES.—With respect to nongovernmental output property acquired by a joint action f agency the members of which are governmental units, this subsection shall be applied at the member level by treating each member as acquiring its proportionate share of such property." (b) TECHNICAL AMENDMENT.—Subparagraph (A) of section 146(f)(5) is amended to read as follows: "(A) the purpose of issuing exempt facility bonds described in 1 of the paragraphs of section 142(a),'. (c) EFFECTIVE DATE.— (1) IN GENERAL.—Except as otherwise provided in this subsection, the amendments made by this section shall apply to bonds issued after October 13, 1987 (other than bonds issued to refund bonds issued on or before such date). (2) BINDING AGREEMENTS.—The amendments made by this section shall not apply to bonds (other than advance refunding bonds) with respect to a facility acquired after October 13, 1987, pursuant to a binding contract entered into on or before such date. (3) TRANSITIONAL RULE.—The amendments made by this section shall not apply to bonds issued— ^: (A) after October 13, 1987, by an authority created by a statute— (i) approved by the State Governor on July 24, 1986 and (ii) sections 1 through 10 of which became effective on January 15, 1987, and (B) to provide facilities serving the area specified in such statute on the date of its enactment, SEC. 10632. BONDS ISSUED BY INDIAN TRIBAL GOVERNMENTS.

(a) IN GENERAL.—Section 7871 is amended by adding at the end thereof the following new subsection: "(e) ESSENTIAL GOVERNMENTAL FUNCTION.—For purposes of this section, the term 'essential governmental function' shall not include any function which is not customarily performed by State and local governments with general taxing powers." (b) EXCEPTION FOR CERTAIN PRIVATE ACTIVITY BONDS.—

(1) IN GENERAL.—Subsection (c) of section 7871 (relating to additional requirements for tax-exempt bonds) is amended by adding at the end thereof the following new paragraph: "(3) EXCEPTION FOR CERTAIN PRIVATE ACTIVITY BONDS.—

"(A) IN GENERAL.—In the case of an obligation to which this paragraph applies—

91-194 O - 90 - 40: QL.3 Part 2

26 USC 141 note.

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