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S 279 111th Congress Senate

Municipal Bond Market Support Act of 2009

Official title: A bill to amend the Internal Revenue Code of 1986 to modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds, and for other purposes.

Introduced: January 16, 2009 See on congress.gov
Taxation Income tax deductionsIncome tax exclusionInflation and pricesInterest, dividends, interest rates
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SecuritiesState and local finance
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2009
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S654-655)
Jan 16, 2009
Sponsor introductory remarks on measure. (CR S654)
Jan 16, 2009
Introduced in Senate
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 Latest action January 16, 2009

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S654-655)

 Plain-English summary Congressional Research Service

Municipal Bond Market Support Act of 2009 - 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 in 2009 or 2010 financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.

 Related & companion bills 1
  • S 3350 Related bill Municipal Bond Market Support Act of 2010
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Crapo, Mike
Idaho · Jan 16, 2009
 D
Schumer, Charles E.
New York · Jan 16, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 279: Municipal Bond Market Support Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-S-279/
MLA
"S. 279: Municipal Bond Market Support Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-279/.
Bluebook (legal)
S. 279, 111th Cong. (2026), https://openamerica.io/bill/111-S-279/.
Markdown link
[S. 279: Municipal Bond Market Support Act of 2009](https://openamerica.io/bill/111-S-279/)
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