U.S. Congress - H.R.6333 Municipal Bond Market Support Act of 2008
H.R.6333 - Municipal Bond Market Support Act of 2008
To amend the Internal Revenue Code of 1986 to modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds. view all titles (2)
All Bill Titles
- Official: To amend the Internal Revenue Code of 1986 to modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds. as introduced.
- Short: Municipal Bond Market Support Act of 2008 as introduced.
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Official Summary
6/20/2008--Introduced.Municipal Bond Market Support Act of 2008 - 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 tOfficial Summary
6/20/2008--Introduced.Municipal Bond Market Support Act of 2008 - 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 financial institutions to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.
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Recent Blog Coverage
WashingtonWatch.com - H.R. 6333, The Municipal Bond Market Support ...
US Congress: HR 6333, The Municipal Bond Market Support Act of 2008.
Bill Action: Introduced: HR 6333: To amend the Internal Revenue ...
Barney Frank [D-MA] introduced HR 6333: To amend the Internal Revenue Code of 1986 to modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds. [This event matched these trackers: Active ...
HR 6333, To amend the Internal Revenue Code of 1986 to modify the ...
HR 6333 would amend the Internal Revenue Code of 1986 to modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds.... Vote on This Bill: For | Against.
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