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S 279 111th Congress Senate Taxation Income tax deductions Income tax exclusion Inflation and prices Interest, dividends, interest rates Securities State and local finance

Municipal Bond Market Support Act of 2009

Introduced: January 16, 2009 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
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
 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.

What's happening now January 16, 2009

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

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1