[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2091 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 2091

To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by 
     the Federal home loan banks to be treated as tax exempt bonds.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 1, 2007

Mr. Levin (for himself, Mr. English of Pennsylvania, Mr. Kanjorski, and 
Ms. Pryce of Ohio) introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by 
     the Federal home loan banks to be treated as tax exempt bonds.

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

SECTION 1. BONDS GUARANTEED BY FEDERAL HOME LOAN BANKS.

    (a) In General.--Clause (i) of section 149(b)(3)(A) of the Internal 
Revenue Code of 1986 (relating to exceptions for certain insurance 
programs) is amended--
            (1) by striking ``or'' after ``Corporation,'', and
            (2) by inserting at the end the following: ``or any Federal 
        home loan bank,''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to bonds issued after the date of the enactment of this Act.
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