House bill would open tax-exempt bonds to golf course financing
In committeeH.R. 1583Latest action
Sponsor: Claudia Tenney · Representative · NY
AIDecoded by AI · checked against the recordRead the official text
Official title: PAR Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 1583 removes golf courses and country clubs from restricted lists for small-issue bonds and Empowerment and Opportunity Zone tax breaks.
55-second read · 4 questions answered below
What does this do?
HR 1583 would remove golf courses and country clubs from the restricted list that currently bars them from receiving financing through tax-exempt small issue or qualified private activity bonds. The bill also changes rules for federal Empowerment Zones and Opportunity Zones, where businesses tied to private golf courses and country clubs are currently ineligible for certain tax incentives. Under the bill, those businesses would qualify for the same tax breaks available to other businesses in those zones.
Who does it affect?
The bill primarily affects developers, investors, and business owners seeking to build or improve private or commercial golf courses and country clubs in areas covered by these tax programs. Local governments that use these bond types to attract development, and residents of Empowerment Zones or Opportunity Zones, could also be affected.
Why does it matter?
Removing these restrictions could expand the pool of projects eligible for low-interest bond financing and zone-based tax incentives. Residents in affected zones could see indirect changes to local development and employment if golf-related businesses enter their communities.
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Where does it stand?
- IntroducedFeb 25, 2025
- House committeeYou are here · Feb 25, 2025
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Referred to the House Committee on Ways and Means.