Page:United States Statutes at Large Volume 98 Part 1.djvu/986

 98 STAT. 938

PUBLIC LAW 98-369—JULY 18, 1984

(7) Obligations with respect to which an inducement resolution was adopted on March 5, 1984, for the purpose of acquiring existing airport facilities at more than 12 locations in 1 State but— (A) only if the Civil Aeronautics Board certifies that such transaction would reduce the amount of Federal subsidies provided under section 419 of the Airline Deregulation Act 49 USC app. of 1978, and 1389. (B) only to the extent the aggregate face amount of such obligations does not exceed $25,000,000. (8) Obligations described in subsection (b). (b) CERTAIN PARKING FACILITY BONDS.—For purposes of the Inter26 USC 1 et seq. nal Revenue Code of 1954, any obligation issued with respect to a parking facility approved by an agency of a county government on December 1, 1982, as part of an urban revitalization plan shall be treated as an obligation described in section 103(b)(4)(D) of such Code. (c) EXCEPTION TO CERTAIN BOND LIMITATIONS.—The amendments Ante, p. 915. made by section 621 (relating to the limitations on amount of private Ante, p. 926. activity bonds) and section 626(a) (relating to the prohibition on acquiring existing facilities) shall not apply to obligations issued before January 1, 1987, in connection with the Claymont, Delaware, regeneration plant of the Delaware Economic Development Authority, but only to the extent the aggregate face amount of such obligation does not exceed $30,000,000. (d) CERTAIN OBLIGATIONS TREATED AS NOT FEDERALLY GUARAN-

Ante, p. 918.

TEED.—For purposes of section 103(h) of the Internal Revenue Code of 1954, obligations (including refunding obligations) shall not be treated as federally guaranteed if— (A) such obligations are issued with respect to any facility, and (B) any obligation was issued on June 3, 1982 in the principal amount of $11,312,125 for the purpose of financing the development, study, or related costs incurred with respect to such facility. (e) CERTAIN EXPENDITURES TREATED AS SIGNIFICANT EXPENDI-

TURES.—For purposes of this title, expenditures of $850,000 incurred with respect to any project involving $15,000,000 shall be treated as significant expenditures if such expenditures were incurred pursuant to an agreement entered into on July 13, 1982, relating to the discharge of industrial waste after January 1, 1986. (f) CERTAIN ORDINANCES TREATED AS INDUCEMENT RESOLUTIONS.—

For purposes of this title, any ordinance passed on May 3, 1982, with respect to a planned development district shall be treated as an inducement resolution with respect to obligations issued in 1984 in connection with a mall project for such district. (g) DELAYED EFFECTIVE DATE WITH RESPECT TO CERTAIN I D B S. —

(1) F E R C PROJECTS.—Notwithstanding any other provision of this title, any amendments made by this title (other than the amendments to section 103(c) of the Internal Revenue Code of 1954) which, but for this paragraph, would apply to industrial development bonds issued after December 31, 1984, shall not apply to any of the following obligations issued before January 1, 1986: (A) obligations issued with respect to Federal Energy Regulatory Commission project 4657, but only to the extent

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