Health and Higher Education Facilities Improvement Act of 2005

The Health and Higher Education Facilities Improvement Act of 2005 (H.R. 1140) proposes a change to tax laws to make it easier for small non-profit organizations, such as community hospitals and private colleges, to secure low-interest financing. Under current law, there are strict limits on the total amount of tax-exempt bonds a small local authority can issue each year, which can create a bottleneck for multiple local projects. This bill would allow each individual borrower to be treated as its own entity for tax purposes, effectively increasing the availability of affordable loans for building or upgrading local healthcare and educational facilities.