US Congress Senate Bill 279 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on January 16 2009 - 25% progression, died in chamber
Action: 2009-01-16 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S654-655)
Text: Latest bill text (Introduced) [PDF]

Municipal Bond Market Support Act of 2009 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) increase from $10 to $30 million the annual limit on small issuers of tax-exempt municipal bonds; (2) allow an inflation adjustment to such increased limit amount after 2009; (3) repeal aggregation rules relating to the determination of small issuer eligibility; (4) allow small issuers an election to treat borrowers separately for purposes of issuance limitations; and (5) allow in 2009 or 2010 financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.

Municipal Bond Market Support Act of 2009

Sen. Jeff Bingaman [D-NM]	Sen. Mike Crapo [R-ID]	Sen. John Kerry [D-MA]	Sen. Charles Schumer [D-NY]
Sen. Olympia Snowe [R-ME]

Date	Chamber	Action
2009-01-16		Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S654-655)
2009-01-16		Sponsor introductory remarks on measure. (CR S654)

SB3350 (Related) 2010-05-12 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/279/all-info
Text	https://www.congress.gov/111/bills/s279/BILLS-111s279is.pdf