PoliticalRepoPoliticalRepo

United States · Resolution · SRES

S.Res. 188 (96th)

A resolution stating transitional rules for tax exempt mortgage bonds.

passedUnited States· United States Congress· EN

Introduced

19 June 1979

Last action

19 July 1979 · Passed

Status

Measure passed Senate, amended.

Sponsors

Sen. Gravel, Mike [D-AK], Sen. Leahy, Patrick J. [D-VT], Sen. Randolph, Jennings [D-WV], Sen. Domenici, Pete V. [R-NM], Sen. Stafford, Robert T. [R-VT], Sen. Hart, Gary W. [D-CO], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Bumpers, Dale [D-AR], Sen. Pryor, David H. [D-AR]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Expresses the sense of the Senate with respect to the adoption of transitional rules for the elimination of the tax exclusion of interest from Government bonds issued to finance mortgages on owner-occupied and multifamily residences. Provides that interest from Government bonds issued after April 25, 1979, shall be excludable from gross income if official actions had been taken by such date indicating an intent to issue such bonds. Permits the rollover of bonds outstanding on April 24, 1979, where the maturity date of such bonds is no longer than the life of the initial mortgages on the property. Permits the use of the tax-exempt bonds for the financing of projects which had reached specified stages of development prior to April 25, 1979.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 19 June 1979

    Introduced

    Introduced in Senate

    Source: IntroReferral

  2. 19 June 1979

    Introduced

    Referred to Senate Committee on Finance.

    Source: IntroReferral

  3. 12 July 1979

    Reported

    Reported to Senate from the Committee on Finance, S. Rept. 96-243.

    Source: Committee

  4. 12 July 1979

    Reported

    Reported to Senate from the Committee on Finance, S. Rept. 96-243.

    Source: Committee

  5. 19 July 1979

    Floor

    Call of calendar in Senate.

    Source: Floor

  6. 19 July 1979

    Passed

    Passed/agreed to in Senate: Measure passed Senate, amended.

    Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

Sponsors

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.