A bill to authorize the Secretary of the Treasury to provide financial assistance for the city of New York.
New York City Financial Assistance Act - Title I: Emergency Assistance - Authorizes the Secretary of the Treasury to guarantee, under stated conditions, obligations of the City of New York or of its financing agent. Limits the total amount of guarantees that may be outstanding at any time to $2,000,000,000.
Title II: Amendments to the Internal Revenue Code of 1954 - Makes interest income received on any obligation guaranteed under Title I of this Act after the date of the enactment of this title taxable under the Internal Revenue Code of 1954.
Public Law 95-339.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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