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.

openUnited States· United States Congress· EN

Introduced

1 April 1982

Last action

—

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

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 pooled security be used to pay debt service on such obligations.

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Documents

1 official file

Introduced in Senate
summary · EN · 1 April 1982
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2335
Open data entity: https://api.congress.gov/v3/bill/97/s/2335