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.
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.