H.R.1060

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.

2/13/2009--Introduced.

Amends the Internal Revenue Code to provide that a loan guarantee by the North American Development Bank (NADBank) shall not be treated as a federal guarantee for purposes of the tax exclusion for interest on state and local bonds.

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