A bill 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

S 533

Introduced

Mar 4, 2005

Latest Action

Read twice and referred to the Committee on Finance.

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

Full Text

View Full Bill Text

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

Mar 4, 2005

Read twice and referred to the Committee on Finance.
Mar 4, 2005

Sponsor introductory remarks on measure. (CR S2085)
Mar 4, 2005

Introduced in Senate

Amendments

Related Bills