II110th CONGRESS1st SessionS. 1963IN THE SENATE OF THE UNITED STATESAugust 2, 2007Mr. Rockefeller (for himself, Mr. Crapo, Ms. Stabenow, and Mr. Carper) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds.

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 amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.