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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Municipal Bond Market Support Act of 2019

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to permanently modify the limitations on the deduction of interest by financial institutions which hold tax-exempt bonds, and for other purposes.

Actions Overview (1)

Date Actions Overview
07/25/2019Introduced in House

All Actions (2)

Date All Actions
07/25/2019Referred to the House Committee on Ways and Means.
Action By: House of Representatives
07/25/2019Introduced in House
Action By: House of Representatives

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Reed, Tom [R-NY-23]* 07/25/2019
Rep. Fitzpatrick, Brian K. [R-PA-1] 08/27/2019
Rep. Brownley, Julia [D-CA-26] 08/27/2019
Rep. Luria, Elaine G. [D-VA-2] 09/27/2019
Rep. McCollum, Betty [D-MN-4] 02/13/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means07/25/2019 Referred to

As of 08/08/2020 no related bill information has been received for H.R.3967 - Municipal Bond Market Support Act of 2019

Subjects (8)

Latest Summary (1)

There is one summary for H.R.3967. View summaries

Shown Here:
Introduced in House (07/25/2019)

Municipal Bond Market Support Act of 2019

This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to:

  • permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules;
  • require the limit for the small issuer exception to be adjusted for inflation after 2019;
  • make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and
  • make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.