relating to the application of certain provisions of the Internal revenue code of 1954 to specified transactions by certain public employee retirement systems created by the state of new York or any of its political subdivisions.

Summary

Amends the Internal Revenue Code to allow New York State and City employee pension plans to purchase New York City debt up to specified portions of their total assets without losing their status as tax exempt organizations or qualified pension plans. Directs the trustees of each plan to file copies of their New York State Insurance Department annual reports with the Congress and the Secretary of the Treasury until less than ten percent of their plan's assets consists of such debt.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 11 April 1978

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.