A bill to amend the Internal Revenue Code of 1954 with respect to the deduction, by certain financial institutions, of interest paid on deposits of public funds where those deposits are secured by tax-exempt obligations.

Summary

Amends the Internal Revenue Code to exempt interest paid on deposits by State and local government public funds which are secured by tax-exempt securities, from provisions of the Internal Revenue Code which disallow income tax deductions for interest paid with respect to tax-exempt financing.

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

Timeline

1. 28 January 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 28 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 25 February 1981

   Referred

   Referred to Subcommittee on Select Revenue Measures.

   Source: Committee

5. 9 December 1981

   Committee

   For Further Action See H.R.4908.

   Source: Committee

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 · 28 January 1981

  Open at official source

Sponsors

• Rep. Downey, Thomas J. [D-NY-2] · D · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend section 280A of the Internal Revenue Code of 1954 with respect to rentals of dwelling units to family members, and for other purposes.