United States · Bill · S
S. 1341 (111th)
Close the SILO/LILO Loophole Act of 2009
Introduced
24 June 2009
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
14 August 2025
Summary
Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 24 June 2009
Introduced in Senate (PDF)
Introduced in Senate · EN · 24 June 2009
Introduced in Senate
summary · EN · 24 June 2009
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/111th-congress/senate-bill/1341
- Open data entity: https://api.congress.gov/v3/bill/111/s/1341