US Congress House Bill 3967 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on July 25 2019 - 25% progression, died in committee
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]

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.

Municipal Bond Market Support Act of 2019

Rep. Terri Sewell [D-AL]	Rep. Tom Reed [R-NY]	Rep. Brian Fitzpatrick [R-PA]	Rep. Julia Brownley [D-CA]
Rep. Elaine Luria [D-VA]	Rep. Betty McCollum [D-MN]

Date	Chamber	Action
2019-07-25	House	Referred to the House Committee on Ways and Means.
2019-07-25	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/3967/all-info
Text	https://www.congress.gov/116/bills/hr3967/BILLS-116hr3967ih.pdf