HR 3320 105th Congress House Taxation Building construction Commerce Construction costs Education Elementary and secondary education Elementary schools Finance and Financial Sector Government Operations and Politics High schools Income tax Maintenance and repair Personal income tax Public schools School buildings School districts School planning Secondary education Tax credits Tax-exempt securities

Public School Modernization Act of 1998

Introduced: March 4, 1998 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 4, 1998

Referred to the House Committee on Ways and Means.

Mar 4, 1998

Sponsor introductory remarks on measure. (CR E278)

Mar 4, 1998

Introduced in House

Plain-English summary Congressional Research Service

Public School Modernization Act of 1998 - Amends the Internal Revenue Code to revise current incentives for education zones into incentives for qualified public school modernization bonds, including (currently existing) qualified zone academy bonds and (newly established) qualified school construction bonds.

Allows a limited tax credit, computed according to a specified formula, to taxpayers holding such public school modernization bonds. Raises the national zone academy bond limitation from $400 million to $1.4 billion for calendar 1999 (and 2000), and eliminates the limitation after 2000.

Prescribes requirements for national qualified school construction bonds, with a national limitation of $9.7 billion each for calendar 1999 and 2000 and no limit after 2000.

What's happening now March 4, 1998

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1