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S 1474 109th Congress Senate Finance and Financial Sector Dividends Earnings Economics and Public Finance Government Operations and Politics Government trust funds Securities regulation State laws Tax-exempt securities

A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations…

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A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception.

Introduced: July 22, 2005 See on congress.gov
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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
Jul 22, 2005
Read twice and referred to the Committee on Finance.
Jul 22, 2005
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Deficit Reduction Act of 1984 to modify the special arbitrage rule pertaining to specified securities or obligations held in a fund which cannot be used under state law restrictions continuously in effect since October 9, 1969, to pay debt service on the bond issue or to finance the facilities that are to be financed with the proceeds of the bonds. Changes the effective date of such state law restrictions from October 9, 1969, to March 1, 1985, and requires that they be continuously in effect only through the bond issue's date of issue.

Extends such rule, as an alternative, to specified securities or obligations held in a fund whose annual distributions cannot exceed 7% of the average fair market value of the assets held in the fund, except to the extent distributions are necessary to pay debt service on the bond issue.

What's happening now July 22, 2005

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2661 Identical bill To amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Cornyn, John
Texas · Jul 22, 2005
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APA
U.S. Congress. (2026). S. 1474: A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception.. 109th Congress. Open America. https://openamerica.io/bill/109-S-1474/
MLA
"S. 1474: A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception.." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-1474/.
Bluebook (legal)
S. 1474, 109th Cong. (2026), https://openamerica.io/bill/109-S-1474/.
Markdown link
[S. 1474: A bill to amend the Deficit Reduction Act of 1984 to clarify the Permanent University Fund arbitrage exception and to increase from 20 percent to 30 percent the amount of securities and obligations benefitting from the exception.](https://openamerica.io/bill/109-S-1474/)
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