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United States · Bill · HR

H.R. 5126 (97th)

A bill to amend section 103 of the Internal Revenue Code of 1954 with respect to the small-issue exemption.

referredUnited States· United States Congress· EN

Introduced

8 December 1981

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

7 February 2024

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Summary

Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on small issues of industrial development bonds. Limits the small issue exemption to obligations used to finance the following types of business: (1) manufacturing; (2) processing; and (3) warehousing and distribution facilities. Requires bond issuing authorities to conduct public hearings prior to the approval and issuance of any small issue industrial development bond. Requires the Governor of a State to report to the Secretary of the Treasury annually beginning in 1984 on bonds issued during the preceding year.

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Documents

1 official file

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