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HR 2617 104th Congress House Taxation Capital investments Commerce Finance and Financial Sector Income tax Industrial development bonds Interest Land transfers Manufacturing industries Public Lands and Natural Resources Tax deductions Tax-exempt securities

To amend the Internal Revenue Code of 1986 to exempt small issues from the restrictions on the deduction by financial institutions for interest, to disregard certain amounts of capital expenditures…

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To amend the Internal Revenue Code of 1986 to exempt small issues from the restrictions on the deduction by financial institutions for interest, to disregard certain amounts of capital expenditures in applying $10,000,000 limit on such issues, and for other purposes.

Introduced: November 10, 1995 See on congress.gov
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 10, 1995
Referred to the House Committee on Ways and Means.
Nov 10, 1995
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exempt any qualified small issue bond from the restrictions on the deduction by financial institutions for interest. Disregards $10 million of capital expenditures in applying the $10 million limitation on the face amount of qualified small issue bonds. Excludes any qualified small issue bond from the limitation on use for land acquisition. Repeals the percentage limitation on directly related and ancillary facilities which may be financed by qualified small issue bonds. Repeals the de minimis limitation applicable to financing of office space by qualified small issue bonds and specifies that an office shall not be treated as manufacturing property unless: (1) the office is located on the premises of a manufacturing facility; and (2) not more than a de minimis amount of the functions performed at such office is not directly related to the day-to-day operations at such facility.

What's happening now November 10, 1995

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Calvert, Ken
California · Nov 30, 1995
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APA
U.S. Congress. (2026). H.R. 2617: To amend the Internal Revenue Code of 1986 to exempt small issues from the restrictions on the deduction by financial institutions for interest, to disregard certain amounts of capital expenditures in applying $10,000,000 limit on such issues, and for other purposes.. 104th Congress. Open America. https://openamerica.io/bill/104-HR-2617/
MLA
"H.R. 2617: To amend the Internal Revenue Code of 1986 to exempt small issues from the restrictions on the deduction by financial institutions for interest, to disregard certain amounts of capital expenditures in applying $10,000,000 limit on such issues, and for other purposes.." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-2617/.
Bluebook (legal)
H.R. 2617, 104th Cong. (2026), https://openamerica.io/bill/104-HR-2617/.
Markdown link
[H.R. 2617: To amend the Internal Revenue Code of 1986 to exempt small issues from the restrictions on the deduction by financial institutions for interest, to disregard certain amounts of capital expenditures in applying $10,000,000 limit on such issues, and for other purposes.](https://openamerica.io/bill/104-HR-2617/)
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