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United States · Bill · HR

H.R. 2975 (100th)

Tax-Exempt Financing Abuse Act

referredUnited States· United States Congress· EN

Introduced

21 July 1987

Last action

—

Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

28 August 2025

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Summary

Tax-Exempt Financing Abuse Act - Amends the Internal Revenue Code to disallow the exclusion from gross income of interest on governmental obligations issued or guaranteed by an issuer or guarantor which, at the time of issuance, is an issuer or guarantor in arrears for more than 180 days with respect to an obligation that was: (1) offered publicly with an accompanying written guarantee; (2) issued after 1974; (3) not a short term obligation; and (4) not a private activity bond or industrial revenue bond.

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Documents

1 official file

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