S 1497 IS
111th CONGRESS
1st Session
S. 1497
To amend the Internal Revenue Code of 1986 to allow tax-exempt bond financing for fixed-wing emergency medical aircraft.
IN THE SENATE OF THE UNITED STATES
July 22, 2009
Ms. CANTWELL (for herself and Mrs. MURRAY) introduced the following bill; which was read twice and referred to the Committee on Finance
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 (relating to no portion of bonds may be issued for skyboxes, airplanes, gambling establishments, etc.) 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.
Full Text of Legislation