US HB3967 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 25 2019 - 25% progression
Action: 2019-07-25 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Municipal Bond Market Support Act of 2019 This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to: permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules; require the limit for the small issuer exception to be adjusted for inflation after 2019; make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.

Tracking Information

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Title

Municipal Bond Market Support Act of 2019

Sponsors


History

DateChamberAction
2019-07-25HouseReferred to the House Committee on Ways and Means.
2019-07-25HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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