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United States · Bill · HR

H.R. 14683 (94th)

Municipal Bond Fund Act

referredUnited States· United States Congress· EN

Introduced

1 July 1976

Last action

Status

Referred to House Committee on Ways and Means.

Sponsors

Subjects

Discovery layer

Source updated

2 September 2025

Summary

Authorizes regulated investment companies, under the Internal Revenue Code, to pay exempt-interest dividends in an amount up to 90 percent of the excess of its tax-exempt interest without affecting its tax-exempt status. Allows shareholders to treat such exempt-interest dividends as excludable from gross income. Disallows that portion of the deduction for expenses and interest relating to tax-exempt income which the amount of such company's exempt-income bears to its gross income.

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Documents

1 official file

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