II
109th CONGRESS
2d Session
S. 3657
IN THE SENATE OF THE UNITED STATES
July 13, 2006
Mr. Santorum introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds.
Bonds guaranteed by Federal home loan banks
In general
Clause (i) of section 149(b)(3)(A) of the Internal Revenue Code of 1986 (relating to exceptions for certain insurance programs) is amended—
by striking
or
after Corporation,
, and
by inserting at
the end the following: or the Federal home loan banks,
.
Effective date
The amendment made by subsection (a) shall apply to bonds issued after the date of the enactment of this Act.