To amend the Internal Revenue Code of 1986 to permit advanced refunding of private activity bonds with governmental bonds under certain limited circumstances.
Last action on Mar 6, 2001Referred to the House Committee on Ways and Means.
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Summary
Amends the Internal Revenue Code to permit the exemption from Federal income tax of interest on a bond if, as of the date of the bond being refunded, the bond would not be classified as a private activity bond.
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