U.S. Congress - H.R.5705 Municipal Bond Market Support Act of 2012
H.R.5705 - Municipal Bond Market Support Act of 2012
To amend the Internal Revenue Code of 1986 to permanently 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: To amend the Internal Revenue Code of 1986 to permanently 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 2012 as introduced.
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Official Summary
5/9/2012--Introduced.Municipal Bond Market Support Act of 2012 - 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 onOfficial Summary
5/9/2012--Introduced.Municipal Bond Market Support Act of 2012 - 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 2012.
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