(as in effect before the date of the enactment of the Modernizing American Manufacturing Bonds Act applies)), either directly or in a series of refundings. . (b) Increase in limitations Section 144(a)(4) of such Code is amended— (1) by striking $10,000,000 in subparagraph (A)(i) and inserting $30,000,000 , and (2) by striking $10,000,000 in the heading and inserting $30,000,000 . (c) Effective date The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.