HR 3711 · 101th Congress · Taxation

To clarify the treatment of certain obligations under the provisions providing for a pro rata allocation of interest expense of financial institutions to tax-exempt interest.

Introduced 1989-11-17· Sponsored by Rep. McGrath, Raymond J. [R-NY-5]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1989-11-17)

Plain Language Summary

[AI summary unavailable — showing source text] Sets forth the tax treatment of any waiver of an interest adjustment clause under obligations issued to tax-exempt organizations with respect to the pro rata allocation of the interest expense of financial institutions to tax-exempt interest.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (8)

5 Democrats3 Republicans