A bill to amend the Internal Revenue Code of 1954 to provide that certain research or experimental expenditures will not be taken into account for purposes of the small issue exemption from the industrial development bond rules.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that business-related research and experimental expenditures shall not be taken into account for purposes of determining the aggregate face value of industrial development bonds which otherwise qualify for the small issue exemption.…