To amend the Internal Revenue Code of 1986 to require that the issuer of a tax-exempt State or local obligation obtain a certification that the interest rate with respect to such obligation is reasonable without materially increasing the risks associated with the obligation.
Municipal Finance Improvements Act of 2010 - Amends the Internal Revenue Code to require the issuer of a tax-exempt state or local bond to obtain an optimal bond financing certification. Defines "optimal bond financing certification" as a written statement by an independent qualified financial advisor that the issuance fees and aggregate interest cost to the bond issuer are reasonable without materially increasing the risks to the issuer or bond obligors.
Allows a tax credit for small issuers of tax-exempt bonds. Defines a "small issuer" as any issuer of tax-exempt bonds with an aggregate face value not exceeding $50 million in a calendar year.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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