INDUSTRIAL DEVELOPMENT BONDS.

SEC. 315. INDUSTRIAL DEVELOPMENT BONDS. (a) Issues for Water Facilities—Section 103(c)(4) (relating to certain exempt activities) is amended— (1) by striking out in subparagraph (E) “energy, gas, or water, or” and by inserting in lieu thereof “energy or gas,”; (2) by striking out the period at the end of subparagraph (F) and inserting in lieu thereof “, or”; and (3) by adding at the end thereof the following: “(G) facilities for the furnishing of water, if available on reasonable demand to members of the general public.” (b) Certain Capital Expenditures—Section 103(c) (6) (F) (iii) (relating to exception of certain capital expenditures for purposes of the $5,000,000 limit) is amended by striking out “$250,000” and inserting in lieu thereof “$1,000,000”. (c) Effective Dates—The amendments made by subsection (a) shall apply with respect to obligations issued after January 1, 1969. The amendment macle by subsection (b) shall apply with respect to expenditures incurred after the date of the enactment of this Act.