II
109th CONGRESS
1st Session
S. 533
IN THE SENATE OF THE UNITED STATES
March 4, 2005
Mrs. Hutchison 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 clarify that a NADBank guarantee is not considered a Federal guarantee for purposes of determining the tax-exempt status of bonds.
Certain guarantees not considered Federal guarantees for purposes of determining tax-exempt status of bonds
In General
Section 149(b)(3)(A)(i) of the Internal Revenue Code of
1986 (relating to certain insurance programs) is amended by inserting
the North American Development Bank,
after
Corporation,
.
Effective Date
The amendment made by this section shall apply with respect to any bond issued before, on, or after the date of the enactment of this Act.