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HR 3967 116th Congress House

Municipal Bond Market Support Act of 2019

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

Introduced: August 27, 2019 Introduced by: Sewell, Terri A. Democratic · Alabama See on congress.gov
Taxation Income tax deductionsIncome tax exclusionInflation and pricesInterest, dividends, interest rates
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SecuritiesState and local financeTax-exempt organizations
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 25, 2019
Referred to the House Committee on Ways and Means.
Jul 25, 2019
Introduced in House
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 Latest action July 25, 2019

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Municipal Bond Market Support Act of 2019

This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to:

  • permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules;
  • require the limit for the small issuer exception to be adjusted for inflation after 2019;
  • make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and
  • make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 2 Republican 1
D
McCollum, Betty
Minnesota · Feb 13, 2020
Luria, Elaine
· Sep 27, 2019
 D
Brownley, Julia
California · Aug 27, 2019
 R
Fitzpatrick, Brian K.
Pennsylvania · Aug 27, 2019
Reed, Tom
· Jul 25, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3967: Municipal Bond Market Support Act of 2019. 116th Congress. Open America. https://openamerica.io/bill/116-HR-3967/
MLA
"H.R. 3967: Municipal Bond Market Support Act of 2019." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-3967/.
Bluebook (legal)
H.R. 3967, 116th Cong. (2026), https://openamerica.io/bill/116-HR-3967/.
Markdown link
[H.R. 3967: Municipal Bond Market Support Act of 2019](https://openamerica.io/bill/116-HR-3967/)
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