A bill to amend section 103 of the Internal Revenue Code of 1954 to provide that the interest on mortgage subsidy bonds will not be exempt from Federal income tax.

referredUnited States· United States Congress· EN

Introduced

16 May 1979

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to deny a tax exclusion of the interest on State and local mortgage subsidy bonds (except those bonds issued to finance housing for veterans). Defines "mortgage subsidy bonds" as bonds which are issued to provide funding for mortgages on owner-occupied residences. Limits the issuance of industrial development bonds for housing purposes to low-or moderate-income rental housing.

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Documents

1 official file

Introduced in House
summary · EN · 16 May 1979
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/4125
Open data entity: https://api.congress.gov/v3/bill/96/hr/4125