Section 1 Short title
This Act may be cited as the “Investing in 21st Century Schools Act”.
Investing in 21st Century Schools Act
A BILL
To amend the Internal Revenue Code of 1986 to extend qualified zone academy bonds for 4 years and to reduce the private business contribution requirement with respect to such bonds.
Sec. 2 Extension and modification of qualified zone academy bonds
Extension— Section 54E(c)(1) of the Internal Revenue Code of 1986 is amended by striking “and 2016” and inserting “2016, 2017, 2018, 2019, and 2020”.
Reduction of private business contribution requirement— Section 54E(b) of such Code is amended by striking “10 percent” and inserting “5 percent”.
Effective date— The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.