WASHINGTON -- The $150 million limit on the amount of bonds individual non-hospital 501(c)(3) organizations can have outstanding would be eliminated under health care reform legislation proposed late last week by Senate Finance Committee Chairman Daniel Moynihan.

The New York Democrat's proposal is broader than that suggested by the Public Securities Association and a group of 501(c)(3) issuers, who had urged the cap be lifted on health care institutions other than hospitals, which are already exempt. Moynihan's measure would also apply to universities, museums, housing authorities, and all other private non-profit organizations with the 501(c)(3) designation.

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