There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/26/1986)

Amends the Internal Revenue Code to provide that the interest on certain governmental obligations issued by an issuer who is in arrears with respect to another obligation issued by the issuer, or guaranteed by a guarantor who is in arrears with respect to another obligation guaranteed by the guarantor, is not exempt from tax.