WASHINGTON -- The enterprise zone legislation pending in Congress should be amended to exempt bonds issued in the zones from private-activity volume limits during the first two years, an American Bar Association committee told Clinton administration officials and congressional tax staffers.

The recommendation was one of several changes that ABA's tax-exempt financing committee recommended in a position paper sent last week to Margaret Richardson, commissioner of the Internal Revenue Service; Leslie Samuels, Treasury assistant secretary for tax policy; and several congressional tax aides.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.