3.0.0 1925 2023-01-11T13:38:17Z 2023-01-11T13:38:17Z Senate S 2017-10-05 115 ssfi00 Finance Committee Senate Standing Referred to 2017-10-05T16:11:56Z 2017-10-05 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-10-05 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2017-10-05 True Taxation Taxation 00 2017-10-05 Introduced in Senate 2018-04-26T17:06:28Z Municipal Bond Market Support Act of 2017

This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to:

  • permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules;
  • require the limit for the small issuer exception to be adjusted for inflation after 2017;
  • make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and
  • make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.
]]> Municipal Bond Market Support Act of 2017 Display Title Municipal Bond Market Support Act of 2017 Short Titles as Introduced Municipal Bond Market Support Act of 2017 Official Title as Introduced A bill 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. Introduced in Senate 2017-10-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1925is/xml/BILLS-115s1925is.xml 2017-10-05 Read twice and referred to the Committee on Finance. 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.