May 2006
Bond Buyer;5/1/2006, Vol. 356 Issue 32371, p34
Trade Publication
The article reports on the status of various legislative bills related to the bond market in the U.S. Propositions for the elimination of the use of tax-exempt bonds to finance sports stadiums for professional teams. The Joint Tax Committee proposed in a study that the so-called 15 percent pro-ration rule be eliminated and that property and casualty firms be allowed no deduction for the portion of their interest expense that is allocable to tax-exempt interest. The Energy Policy Act of 2005, otherwise known as Prepayment of Natural Gas Contracts, was signed into law on April 21, 2005.


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