legislation: 110-s-3518

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
110-s-3518 110 s 3518 Municipal Bond Market Support Act of 2008 Taxation 2008-09-18 2008-09-18 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9031) Senate Sen. Bingaman, Jeff [D-NM] NM D B000468 1 Municipal Bond Market Support Act of 2008 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) increase from $10 to $30 million the annual limit on small issuers of tax-exempt municipal bonds; (2) allow an inflation adjustment to such increased limit amount after 2009; (3) repeal aggregation rules relating to the determination of small issuer eligibility; (4) allow small issuers an election to treat borrowers separately for purposes of issuance limitations; and (5) allow financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction. 2019-11-15T21:59:21Z  

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