S 533 · 109th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to clarify that a NADBank guarantee is not considered a Federal guarantee for purposes of determining the tax-exempt status of bonds.

Introduced 2005-03-04· Sponsored by Sen. Hutchison, Kay Bailey [R-TX]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2005-03-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that a loan guarantee by the North American Development Bank (NADBank) shall not be treated as a Federal guarantee for purposes of the tax exclusion for interest on State and local bonds.…

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

Cosponsors (1)

1 Republican
Sen. Domenici, Pete V. [R-NM]NM