HR 5003
115th Congress
House
Taxation
Income tax exclusion
Interest, dividends, interest rates
Securities
State and local finance
To amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds.
Introduced: February 13, 2018
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2018
Referred to the House Committee on Ways and Means.
Feb 13, 2018
Introduced in House
Plain-English summary
This bill amends the Internal Revenue Code, with respect to the requirements for tax-exempt bonds, to reinstate the exclusion from gross income for interest on certain bonds issued to advance refund another bond. The exclusion was repealed for bonds issued after 2017.
(A refunding bond is a bond used to pay principal, interest, or the redemption price on a prior bond issue. An advance refunding bond is issued more than 90 days before the redemption of the refunded bond.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1