3.0.0 2661 2022-02-03T05:34:42Z 2022-02-03T05:34:42Z House H HR 2005-05-26 109 hswm00 Ways and Means Committee House Standing Referred to 2005-05-26T13:56:42Z A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception. 109 1474 S 2005-07-22 Read twice and referred to the Committee on Finance. Identical bill CRS 2005-05-26 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2005-05-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-05-26 Introduced in House IntroReferral 1000 9 Library of Congress B000755 Rep. Brady, Kevin [R-TX-8] KEVIN BRADY R TX 8 N E000063 Rep. Edwards, Chet [D-TX-17] CHET EDWARDS D TX 17 2005-09-15 False Finance and Financial Sector Dividends Earnings Economics and Public Finance Government Operations and Politics Government trust funds Securities regulation State laws Tax-exempt securities Finance and Financial Sector 00 2005-05-26 Introduced in House 2005-07-05T20:44:04Z Amends the Deficit Reduction Act of 1984 to modify the special arbitrage rule pertaining to specified securities or obligations held in a fund which cannot be used under state law restrictions continuously in effect since October 9, 1969, to pay debt service on the bond issue or to finance the facilities that are to be financed with the proceeds of the bonds. Changes the effective date of such state law restrictions from October 9, 1969, to March 1, 1985, and requires that they be continuously in effect only through the bond issue's date of issue.

Extends such rule, as an alternative, to specified securities or obligations held in a fund whose annual distributions cannot exceed 7% of the average fair market value of the assets held in the fund, except to the extent distributions are necessary to pay debt service on the bond issue.

]]> To amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception. Display Title To amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception. Official Title as Introduced To amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception. Introduced in House 2005-05-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr2661ih/xml/BILLS-109hr2661ih.xml 2005-05-26 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.