HR 659 · 96th Congress · Government Operations and Politics

Federal Municipal Bond Guarantee Administration Act of 1979

Introduced 1979-01-15· Sponsored by Rep. Richmond, Frederick W. [D-NY-14]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1979-01-15)

Plain Language Summary

[AI summary unavailable — showing source text] Federal Municipal Bond Guarantee Administration Act of 1979 - Title I: Federal Municipal Bond Guarantee Administration - Creates a Federal Municipal Bond Guarantee Administration to guarantee municipal bonds. Sets forth procedures that a municipality must follow to obtain such a guarantee. Establishes within the Treasury a Municipal Bond Guarantee Fund for use in guaranteeing bonds under this Act. Allows moneys in such Fund to be invested in obligations of, or guaranteed by, the United States. Title II: Amendment to Internal Revenue Code of 1954 - Amends the Internal Revenue Code of 1954 to designate as taxable income interest on specified government obligations.…

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