A bill to amend the Internal Revenue Code of 1986 to provide that a waiver under an interest rate adjustment clause on a small issue bond shall not be treated as resulting in a new issue for purposes of determining deductibility of interest by a financial institution.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that a waiver under an interest rate adjustment clause in connection with tax-exempt bonds issued before August 8, 1986, shall not be treated as resulting in a new issue for purposes of determining the deductibility of interest by a financial institution.…