[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5311 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5311

   To amend the Internal Revenue Code of 1986 to make permanent the 
 treatment of municipal bonds guaranteed by Federal home loan banks as 
                           tax exempt bonds.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 13, 2010

Mr. Pascrell (for himself, Mr. Boustany, and Mr. Kanjorski) 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 make permanent the 
 treatment of municipal bonds guaranteed by Federal home loan banks 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. SHORT TITLE.

    This Act may be cited as the ``Community Development Financing Act 
of 2010''.

SEC. 2. TREATMENT OF MUNICIPAL BONDS GUARANTEED BY FEDERAL HOME LOAN 
              BANKS AS TAX EXEMPT BONDS MADE PERMANENT.

    Clause (iv) of section 149(b)(3)(A) of the Internal Revenue Code of 
1986 is amended by striking ``during the period beginning on the date 
of the enactment of this clause and ending on December 31, 2010'' and 
inserting ``on or after July 30, 2008''.
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