H.R. 1583 — PAR Act

This section repeals restrictions under IRC §144 prohibiting the use of proceeds from qualified small issue bonds for private or commercial golf courses and country clubs. (Thus, after enactment, such tax-exempt bonds—which support economic development projects up to $10 million (or $20 million in certain cases)—may finance those facilities.) The repeal applies to obligations issued after enactment and, for empowerment zone employment credit (§1396), to individuals beginning work after enactment; for empowerment zone business (§1397C) and opportunity zone (§1400Z–2) benefits, to taxable years beginning after enactment.