To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a small tax-exempt bond issuer, the proceeds of the obligations of which are to be used to make or finance eligible loans for health care or educational purposes, to elect to apply specified current limitations on the amount of obligations by treating each borrower as the issuer of a separate issue.…