A bill to amend the Internal Revenue Code of 1954 to provide that any small issue which is part of a multiple lot shall meet the requirements of the small issue exemption.

Summary

Amends the Internal Revenue Code to qualify multiple lot issues of industrial development bonds for the small issue exemption for purposes of the tax exclusion of interest on such bonds. Requires that such multiple lots be sold at the same time, at the same interest rate, and under a common marketing plan. Requires that a common or polled security be used to pay debt service on such obligations.

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

Timeline

1. 4 May 1982

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 4 May 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 May 1982

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 August 1982

   Committee

   See H.R.4961.

   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 · 4 May 1982

  Open at official source

Sponsors

• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → Tax Equity and Fiscal Responsibility Act of 1982
• related to ← A bill to amend the Internal Revenue Code of 1954 to provide that any small issue which is part of a multiple lot shall meet the requirements of the small issue exemption.
• related to ← A bill to amend the Internal Revenue Code of 1954 to provide that any small issue which is part of a multiple lot shall meet the requirements of the small issue exemption.