H.R. 1011: To amend the Internal Revenue Code of 1986 to allow tax-exempt bond financing for fixed-wing emergency medical aircraft

March 16, 2011 at 7:28 pm | Posted in Aviation Law | Leave a comment

by P.J. Blount with the blog faculty

H.R. 1011: To amend the Internal Revenue Code of 1986 to allow tax-exempt bond financing for fixed-wing emergency medical aircraft was introduced on March 10, 2011 by Rep. Doc Hastings (R-WA4):

HR 1011 IH

112th CONGRESS

1st Session

H. R. 1011

To amend the Internal Revenue Code of 1986 to allow tax-exempt bond financing for fixed-wing emergency medical aircraft.

IN THE HOUSE OF REPRESENTATIVES

March 10, 2011

Mr. HASTINGS of Washington (for himself, Mrs. MCMORRIS RODGERS, and Ms. HERRERA BEUTLER) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow tax-exempt bond financing for fixed-wing emergency medical aircraft.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. TAX-EXEMPT BOND FINANCING FOR FIXED-WING EMERGENCY MEDICAL AIRCRAFT.

(a) In General- Subsection (e) of section 147 of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: `The preceding sentence shall not apply to any fixed-wing aircraft equipped for, and exclusively dedicated to providing, acute care emergency medical services (within the meaning of 4261(g)(2)).’

(b) Effective Date- The amendment made by this section shall apply to obligations issued after the date of the enactment of this Act.

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