to use after the date of enactment of this Act. 3. Public infrastructure property not treated as investment property for arbitrage bonds (a) In general Section 148(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (5) Public infrastructure property not treated as investment-type property The term investment-type property shall not include public infrastructure property (as defined in section 141(b)(10)). . (b) Effective date The amendment made by this section shall apply with respect to transactions after the date of the enactment of this Act.