To amend the Internal Revenue Code of 1986 to clarify that a NADBank guarantee is not considered a Federal guarantee for purposes of determining the tax-exempt status of bonds.

Fact Sheet API

Bill Number

HR 1771

Introduced

Apr 21, 2005

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Development credit institutions Economics and Public Finance Federally-guaranteed loans Finance and Financial Sector Foreign Trade and International Finance Income tax Interest North America Tax exclusion Tax-exempt securities Taxation

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Votes

Summary

Amends the Internal Revenue Code to provide that a loan guarantee by the North American Development Bank (NADBank) shall not be treated as a Federal guarantee for purposes of the tax exclusion for interest on State and local bonds.

Actions

Apr 21, 2005

Referred to the House Committee on Ways and Means.
Apr 21, 2005

Introduced in House

Amendments

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