102 STAT. 3550

PUBLIC LAW 100-647—NOV. 10, 1988

Florida.

26 USC 141 note.

Community
development.
Urban areas.
26 USC 141 note.

Baseball.
Football.
Stadiums.

"(2) by adding at the end thereof the following new sentence:
'In the case of refunding obligations not to exceed $100,000,000
issued after October 21, 1986, by Bade County, Florida, for the
purpose of advance refunding its Aviation Revenue Bonds
(Series J), the first sentence of this paragraph shall be applied
by substituting "the date which is I year after the date of the
enactment of the Technical and Miscellaneous Revenue Act of
1988" for "December 31, 1984" and the amendments made by
section 1301 of the Tax Reform Act of 1986 shall not apply/y>

(9) Paragraph (2) of section 1316(k) of the Reform Act is
amended by striking out "$55,000,000 must be redeemed no
later than November 1, 1987" and inserting in lieu thereof "no
more than $55,000,000 shall be outstanding later than Novem-
ber 1, 1987".

(10) Section 1104 of the Mortgage Subsidy Bond Tax Act of
1980 is amended by adding at the end of subsection (r) the
following new sentence:

"Section 148(f) of the Internal Revenue Code of 1986 and the amend-
ments made by section 1301 of the Tax Reform Act of 1986 shall not
apply to any bonds described in paragraph (1) which may be issued
as a result of the amendments made by the Tax Reform Act of
1986."

(11) Subsection (1) of section 1316 of the Reform Act is hereby
repealed.

(g) AMENDMENTS RELATED TO SECTION 1317 OF THE REFORM ACT.—

(1) Subparagraph (J) of section 1317(2) of the Reform Act is
amended by striking out "began construction in 1980" and
inserting in lieu thereof ", a subsidiary of Sierra Pacific
Resources, began in 1980 work to design, finance, construct, and
operate".

(2) Subparagraph (C) of section 1317(3) of the Reform Act is
amended to read as follows:

"(C) A facility is described in this Subparagraph if—
"(i) it is one or more stadiums to be used either by an
American League baseball team or a National Football
League team currently using a stadium in a city having
a population in excess of 2,500,000 and described in
section 146(d)(3) of the 1986 Code,

"(ii) the bonds to be used to provide financing for one
or more such stadiums are issued by a political subdivi-
sion or a State agency pursuant to a resolution approv-
ing an inducement resolution adopted by a State
agency on November 20, 1985, as it may be amended
(whether or not the beneficiaries of such issue or issues
are the beneficiaries (if any) specified in such induce-
ment resolution and whether or not the number of such
stadiums and the locations thereof are as specified in
t^°^r7^d^cement ^solution) or pursuant to P.A.
54-1470 of the State in which such city is located (and
by an agency created thereby), and

"(iii) such stadium or stadiums are located in the city
described in (i).

The aggregate face amount of bonds to which this subpara-
graph applies shall not exceed $250,000,000. In the case of
any carryforward of volume cap for one or more stadiums
described in the first sentence of this Subparagraph, such
carryforward shall be valid with respect to bonds issued for