US SB1016 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 17 2011 - 25% progression, died in committee
Action: 2011-05-17 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3059)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 17 2011 - 25% progression, died in committee
Action: 2011-05-17 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3059)
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Municipal Bond Market Support Act of 2011 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2011.
Title
Municipal Bond Market Support Act of 2011
Sponsors
| Sen. Jeff Bingaman [D-NM] | Sen. Benjamin Cardin [D-MD] | Sen. Mike Crapo [R-ID] | Sen. Chuck Grassley [R-IA] |
| Sen. John Kerry [D-MA] | Sen. Amy Klobuchar [D-MN] | Sen. Olympia Snowe [R-ME] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-05-17 | Senate | Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3059) |
| 2011-05-17 | Senate | Sponsor introductory remarks on measure. (CR S3058-3059) |
Same As/Similar To
HB5705 (Related) 2012-05-14 - Referred to the Subcommittee on Trade.
Subjects
Income tax deductions
Income tax exclusion
Inflation and prices
Interest, dividends, interest rates
Securities
State and local finance
Tax-exempt organizations
Taxation
Income tax exclusion
Inflation and prices
Interest, dividends, interest rates
Securities
State and local finance
Tax-exempt organizations
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/senate-bill/1016/all-info |
| Text | https://www.congress.gov/112/bills/s1016/BILLS-112s1016is.pdf |
