HR 11635 · 95th Congress · Economics and Public Finance

Intergovernmental Emergency Assistance Act

Introduced 1978-03-16· Sponsored by Rep. LaFalce, John J. [D-NY-36]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1978-03-16)

Plain Language Summary

[AI summary unavailable — showing source text] Intergovernmental Emergency Assistance Act - Title I: Intergovernmental Emergency Assistance - Establishes the Intergovernmental Emergency Assistance Board. Authorizes such Board to guarantee the payment of obligations of States (including its agencies and instrumentalities) and their political subdivisions under specified conditions. Creates the Emergency Municipal Debt Guarantee Fund in the Treasury to be administered by the Board. Title II: Amendment to Internal Revenue Code of 1954 - Makes interest income received on any obligation guaranteed under Title I of this Act after the date of the enactment of this Title taxable under the Internal Revenue Code of 1954.…

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