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

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Timeline

1. 1 April 1982

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 1 April 1982

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 7 April 1982

   Committee

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

   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 Senate

  summary · EN · 1 April 1982

  Open at official source

Sponsors

• Sen. Weicker, Lowell P., Jr. [R-CT] · R · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Sponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Sponsor
• Sen. Kasten, Robert W., Jr. [R-WI] · R · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Sponsor
• Sen. Randolph, Jennings [D-WV] · D · Sponsor
• Sen. Stafford, Robert T. [R-VT] · R · Sponsor
• Sen. Warner, John [R-VA] · R · Sponsor
• Sen. Zorinsky, Edward [D-NE] · D · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Cohen, William S. [R-ME] · R · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Hawkins, Paula [R-FL] · R · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• Sen. Exon, J. James [D-NE] · D · Cosponsor
• Sen. Stennis, John C. [D-MS] · D · Cosponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Cosponsor
• Sen. Chiles, Lawton [D-FL] · D · Cosponsor
• Sen. Schmitt, Harrison H. [R-NM] · R · Cosponsor
• Sen. Specter, Arlen [R-PA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• 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.