[Congressional Record Volume 153, Number 126 (Thursday, August 2, 2007)]
[Senate]
[Page S10806]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. ROCKEFELLER (for himself, Mr. Crapo, Ms. Stabenow, and Mr. 
        Carper):
  S. 1963. 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; to the Committee on Finance.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
placed in the Record, as follows:

                                S. 1963

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