A bill to repeal the denial of the use of the accelerated cost recovery system with respect to tax-exempt obligations and the expiration of the authority to issue such obligations.

[AI summary unavailable — showing source text] Amends the Tax Equity and Fiscal Responsibility Act of 1982 to repeal provisions which disallow the accelerated cost recovery deductions for property financed with tax-exempt securities. Repeals the 1986 expiration date for the authority to issue such tax-exempt securities.…