U.S. Congress - S.3518 Municipal Bond Market Support Act of 2008
S.3518 - Municipal Bond Market Support Act of 2008
A bill 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, and for other purposes. view all titles (2)
All Bill Titles
- Official: A bill 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, and for other purposes. as introduced.
- Short: Municipal Bond Market Support Act of 2008 as introduced.
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Official Summary
9/18/2008--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
9/18/2008--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 and brokers 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
S.3518: Securing the Protection of our Enduring and Established ...
By a unanimous voice vote, the Senate yesterday approved S. 3518, the so-called SPEECH (Securing the Protection of our Enduring Established Constitutional Heritage) bill co-sponsored by Sen. Patrick Leahy (D-Vt.) and Sen. ... OpenCongress is a free and ope
WashingtonWatch.com - S. 3518, The Municipal Bond Market Support ...
US Congress: S. 3518, The Municipal Bond Market Support Act of 2008.
Bill Action: Introduced: S. 3518: A bill to amend the Internal ...
Jeff Bingaman [D-NM] introduced S. 3518: A bill 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, and for other purposes. ...
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