[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 348 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 348

   To amend the Internal Revenue Code of 1986 to permanently extend 
                       qualified mortgage bonds.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             February 4 (legislative day, January 5), 1993

   Mr. Riegle (for himself, Mr. Chafee, Mr. Mitchell, Mr. Akaka, Mr. 
Baucus, Mr. Boren, Mr. Bryan, Mr. Campbell, Mr. Cohen, Mr. Conrad, Mr. 
 Danforth, Mr. Daschle, Mr. DeConcini, Mr. Durenberger, Mr. Grassley, 
  Mr. Hatch, Mr. Hollings, Mr. Jeffords, Mr. Packwood, Mr. Pell, Mr. 
 Pressler, Mr. Sarbanes, Mr. Thurmond, and Mr. Wofford) introduced the 
 following bill; which was read twice and referred to the Committee on 
                                Finance

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to permanently extend 
                       qualified mortgage bonds.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PERMANENT EXTENSION OF QUALIFIED MORTGAGE BONDS.

    (a) Permanent Extension.--
            (1) Mortgage bonds.--Paragraph (1) of section 143(a) of the 
        Internal Revenue Code of 1986 (relating to qualified mortgage 
        bonds) is amended to read as follows:
            ``(1) Qualified mortgage bond defined.--For purposes of 
        this title, the term `qualified mortgage bond' means a bond 
        which is issued as a part of a qualified mortgage issue.''.
            (2) Mortgage credit certificates.--Section 25 of such Code 
        (relating to interest on certain home mortgages) is amended by 
        striking subsection (h) and redesignating subsection (i) as 
        subsection (h).
    (b) Effective Dates.--
            (1) In general.--The amendment made by subsection (a)(1) 
        shall apply to bonds issued after June 30, 1992.
            (2) Certificates.--The amendment made by subsection (a)(2) 
        shall apply to elections for periods after June 30, 1992.

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