DISREGARD OF POOLED FINANCINGS IN DETERMINATION OF QUALIFICATION FOR SMALL ISSUER EXCEPTION.

SEC. 6183. DISREGARD OF POOLED FINANCINGS IN DETERMINATION OF QUALIFICATION FOR SMALL ISSUER EXCEPTION. (a) General.—Clause (ii) of section 148(f)(4)(C) of the 1986 Code (as amended by title I of this Act) is amended by redesignating subclauses (II) and (III) as subclauses (III) and (IV), respectively, and by inserting after subclause (I) the following new subclause: “(II) all bonds issued by a governmental unit on behalf of other governmental units with general 102 STAT. 3730taxing powers not subordinate to such unit shall, for purposes of applying such subclause to such unit, be treated as not issued by such unit,”. (b) Effective Date.—The amendment made by subsection (a) shall apply to bonds issued after December 31, 1988.