HR 5659 · 102th Congress · Taxation
To permit the simultaneous reduction of interest rates on certain port authority bonds.
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and read twice and referred to the Committee on Finance.(1992-08-05)
Plain Language Summary
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Provides that the simultaneous reduction of interest rates on certain port authority bonds shall not affect the tax-exempt status of such interest, nor cause them to be treated as arbitrage bonds under the Internal Revenue Code by reason of the failure to reduce interest rates on loans made with bond proceeds before the date of such simultaneous reduction.…
Summarized by Claude AI · Non-partisan · For informational purposes only