A bill to amend the Internal Revenue Code of 1986 to allow the issuance of depositor protection tax-exempt bonds.
Qualified Depositor Protection Bond Act of 1991 - Amends the Internal Revenue Code to allow the issuance of tax-exempt qualified depositor protection bonds to repay depositors not otherwise insured in an insolvent financial institution located in a qualifying State or to assist the reopening of closed financial institutions in such State. Describes a qualifying State as one in which the Governor declares a bank holiday for a period of not less than five consecutive business days at no less than one-third of the State's financial institutions.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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