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H.R.5003 - To amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds.115th Congress (2017-2018)

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Sponsor: Rep. Hultgren, Randy [R-IL-14] (Introduced 02/13/2018)
Committees: House - Ways and Means
Latest Action: House - 02/13/2018 Referred to the House Committee on Ways and Means.  (All Actions)

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This bill has the status Introduced

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Summary: H.R.5003 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.5003. Bill summaries are authored by CRS.

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Introduced in House (02/13/2018)

This bill amends the Internal Revenue Code, with respect to the requirements for tax-exempt bonds, to reinstate the exclusion from gross income for interest on certain bonds issued to advance refund another bond. The exclusion was repealed for bonds issued after 2017.

(A refunding bond is a bond used to pay principal, interest, or the redemption price on a prior bond issue. An advance refunding bond is issued more than 90 days before the redemption of the refunded bond.)