Page:United States Statutes at Large Volume 102 Part 4.djvu/585

 PUBLIC LAW 100-647—NOV. 10, 1988

102 STAT. 3555

(B) by inserting "dated on December 1, 1985" after "(Series 1985A and 1985B)" in subclause (III). (31) Subparagraph (B) of section 1317(33) of the Reform Act is amended— (A) by striking out "and before August 7, 1988,", and (B) by adding at the end thereof the following new sentence: The aggregate face amount of bonds to which this subparagraph applies shall not exceed $90,000,000." (32) Subparagraph (G) of section 1317(33) of the Reform Act is amended by striking out "subparagraph (H)" and inserting in lieu thereof "subparagraph (F)'. (33) Subparagraph (H) of section 1317(33) of the Reform Act is amended— (A) by striking out clause (ii) and inserting in lieu thereof the following: "(ii) the proceeds of the issue are to be used to finance projects (to be determined by such university and the issuer) which are similar to those projects intended to be financed by bonds that were the subject of a request transmitted to Congress on November 7, 1985", and (B) by adding at the end thereof the following: "Bonds to which this subparagraph applies shall be treated as qualified 501(c)(3) bonds if such bonds would not (if issued on August 15, 1986) be industrial development bonds (as defined in section 103(b)(2) of the 1954 Code), and section 147(f) of the 1986 Code shall not apply to the issue of which such bonds are a part. Bonds issued to finance facilities described in this subparagraph shall be treated as issued to finance such facilities notwithstanding the fact that a period in excess of 1 year has expired since the facilities were placed in service. (34) Subparagraph (K) of section 1317(33) of the Reform Act is amended— (A) by striking out "the issue is" in clause (i) and inserting in lieu thereof "the issue or issues are", (B) by inserting "at least" before "900 units", (C) by striking out "2,000 square feet" and inserting in lieu thereof "245,000 square feet", and (D) by striking out ^'$150,000,000" and inserting in lieu thereof "$112,000,000". (35) Paragraph (33) of section 1317 of the Reform Act is amended by striking out subparagraphs (M), (N), and (O) and inserting in lieu thereof the following new subparagraphs: "(M) Proceeds of an issue are described in this subparagraph if such issue is issued on behalf of the Society of the New York Hospital to finance completion of a project commenced by such hospital in 1981 for construction of a diagnostic and treatment center or to refund bonds issued on behalf of such hospital in connection with the construction of such diagnostic and treatment center or to finance construction and renovation projects associated with an inpatient psychiatric care facility. The aggregate face amount of bonds to which this subparagraph applies shall not exceed $150,000,000. "(N) Any bond to which section 145(b) of the 1986 Ckxie does not apply by reason of this paragraph (other than

Health care facilities.

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