Municipal Bond Market Support Act of 2017

Summary

Municipal Bond Market Support Act of 2017 This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to: permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules; require the limit for the small issuer exception to be adjusted for inflation after 2017; make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.

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Timeline

1. 5 October 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 5 October 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 5 October 2017 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 5 October 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 5 October 2017

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 October 2017

  Open at official source

Sponsors

• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Rep. Cardin, Benjamin L. [D-MD-3] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to ← Municipal Bond Market Support Act of 2016