Amends the Internal Revenue Code to exempt interest paid on deposits by State and local government public funds which are secured by tax-exempt securities, from provisions of the Internal Revenue Code which disallow income tax deductions for interest paid with respect to tax-exempt financing.
Other Measure H.R.4961 Forwarded by Subcommittee to Full Committee in Lieu.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Select Revenue Measures.
For Further Action See H.R.4908.
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