Panel Offers TOB Market Some Safety

Ferris, Craig T.
May 2003
Bond Buyer;5/12/2003, Vol. 344 Issue 31633, p1
Trade Publication
The Senate Finance Committee added language to its $350 billion tax-cut bill last week that is designed to protect tax-exempt tender-option bond programs and should help alleviate concern that new legislation could put a crimp in the TOB business, valued as high as $75 billion.House Ways and Means Committee chairman William Thomas, R-Calif., introduced legislation 10 months ago that sought to limit the use of offshore tax havens, such as Bermuda, and contained broad language that could allow the IRS to tax some of the income generated by tax-exempt TOB programs.While Thomas's bill, the American Competitiveness and Corporate Accountability Act of 2002, died when the 107th Congress adjourned late last year, the provision affecting TOBs could be added to a tax measure this year, such as the tax-cut bill or a pending international tax bill.While there is no corresponding provision in the House tax-cut bill, the measure's inclusion in the finance committee's bill means it is almost certain to be included in the final Senate bill and will be a subject for negotiation when the House and Senate attempt to hammer out a final tax-cut bill, sources said.


Related Articles

  • Chances Small for Bill's Bond Provisions. Resnick, Amy B. // Bond Buyer;11/08/99, Vol. 330 Issue 30764, p4 

    Focuses on the dim prospects for getting bond-related tax law changes through the House in the United States. Discussion on the proposals made in the Republican wage increase bill; Provisions of the three extenders bills designed to continue expiring tax breaks.

  • Residence-based taxation taking shape. du Toit, Charl // Finance Week;10/06/2000, p44 

    Focuses on the proposed legislation on South Africa's change from a source-based to a worldwide or residence-based taxation system. Efforts by the South Africa Revenue Service to introduce the change in January 2001; Details of the proposed taxation changes.

  • Section 527 Legislation Introduced.  // Association Management;May2002, Vol. 54 Issue 5, p10 

    Reports that the U.S. House of Representatives voted against Section 527, a bill on taxpayer rights legislation in 2002. Sponsor of the bill; Controversial provision of the bill.

  • Hungary: The New Hungarian Act on the Special Public Health Tax of Certain Products (a.k.a. Chips-Tax). Dévényi, Péter // European Food & Feed Law Review;2011, Vol. 6 Issue 4, p252 

    A summary is presented of the bill that covers the Special Public Health Tax of Certain products in Hungary.

  • Tax Practitioners and the 'Attribution Rule.'.  // Chartered Accountants Journal;Oct2000, Vol. 79 Issue 9, p52 

    Discusses the 'attribution rule' aspect of the Taxation Bill in New Zealand. Measure to counter the avoidance of the top personal tax rate through the use of a company, trust or partnership as a shelter for employment income; Cases when the rule will apply.

  • Low Taxes, Sound Policy. Hutchison, Kay Bailey // Lakelander (Whitney, TX);4/18/2007, Vol. 21 Issue 16, p5 

    The article highlights the tax-related legislation being supported by U.S. Senator Kay Bailey Hutchison.

  • Volume cap hike not in senate bill; Negotiators will decide its fate. Resnick, Amy B. // Bond Buyer;10/14/98, Vol. 326 Issue 30499, p6 

    Focuses on the schedule made by the US Senate to substitute its tax cut legislative bill for a version passed by the House on October 13, 1998. Reduction of tax cuts approved by the House; Exclusion of provisions increasing private-activity bond volume capitalization.

  • Tax relief for pension contributions. Lee, Chris // Caterer & Hotelkeeper;11/26/2010, Vol. 200 Issue 4655, p40 

    A summary of a new tax rules on pension contributions proposed in Great Britain in October 2010 is presented.

  • House Bill Proposed To Repeal Tax Law On Sales Of Agencies. Brostoff, Steven // National Underwriter / Property & Casualty Risk & Benefits Manag;02/14/2000, Vol. 104 Issue 7, p2 

    Reports on a legislation introduced to repeal a tax provision enacted in 1999 in the United States. Consequences of the tax provision; Number of co-sponsors of the legislation; Statement of Representative Wally Herger.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics