PERMANENT EXTENSION OF QUALIFIED SMALL ISSUE BONDS.

SEC. 13122. PERMANENT EXTENSION OF QUALIFIED SMALL ISSUE BONDS. (a) In General.— Subparagraph (B) of section 144(a)(12) is amended to read as follows: “(B) Bonds issued to finance manufacturing facilities and farm property.— Subparagraph (A) shall not apply to any bond issued as part of an issue 95 percent or more of the net proceeds of which are to be used to provide— “(i) any manufacturing facility, or 107 STAT. 433 “(ii) any land or property in accordance with section 147(c)(2).” (b) Effective Date.— The amendment made by subsection (a) shall apply to bonds issued after June 30, 1992. (c) Treatment Under Inducement Regulations.— If the 1-year period specified in Treasury Regulation § 1.103–8(a)(5) (as in effect before July 1, 1993) or any successor regulation would (but for this subsection) expire after June 30, 1992, and before January 1, 1994, such period shall not expire before January 1, 1994.