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S 3518 110th Congress Senate Taxation Bonds Brokers Economics and Public Finance Finance and Financial Sector Government Operations and Politics Income tax Indexing (Economic policy) Interest Local finance Tax deductions Tax exemption

Municipal Bond Market Support Act of 2008

Introduced: September 18, 2008 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 18, 2008
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9031)
Sep 18, 2008
Sponsor introductory remarks on measure. (CR S9030-9031)
Sep 18, 2008
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now September 18, 2008

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9031)

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1