To amend the Internal Revenue Code of 1986 to provide that certain uses of a facility owned by a tax-exempt organization shall not be treated as private business use for purposes of determining whether bonds issued to provide the facility are tax-exempt bonds.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that the use of a facility owned by a tax-exempt organization by a non-governmental person resulting from the purchase of a franchise or similar type asset by a tax-exempt organization shall not, if certain conditions are met, be treated as a private business use for purposes of determining whether bonds issued to provide the facility are tax-exempt bonds.…