United States · Bill · S
S. 261 (95th)
Municipal Taxable Bond Alternative Act
Introduced
14 January 1977
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
2 September 2025
Summary
Municipal Taxable Bond Alternative Act - Amends the Internal Revenue Code to allow a State, a possession of the United States, any political subdivision of any of the foregoing, or the District of Columbia, to elect to issue taxable obligations, the interest of which will be included in the gross income of the recipient. Directs the Secretary of the Treasury to pay without condition or requirement 40 percent of the interest yield on each obligation for which the election of taxability has been made.
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Documents
1 official file
Introduced in Senate
summary · EN · 14 January 1977
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/95th-congress/senate-bill/261
- Open data entity: https://api.congress.gov/v3/bill/95/s/261