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Congressional Research Service
Version 00 · Introduced in Senate · Oct 5, 2017
Municipal Bond Market Support Act of 2017
This bill amends the Internal Revenue Code, with respect to the limitations on deductions for interest expenses of financial institutions that hold tax-exempt bonds, to:
permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that may be issued to qualify for the small issuer exception to the tax-exempt interest expense allocation rules;
require the limit for the small issuer exception to be adjusted for inflation after 2017;
make permanent the rule that allows qualified 501(c)(3) bonds to be treated is if they were issued by the tax-exempt organization for whose benefit the bond was issued; and
make permanent the special rule for the tax treatment of qualified financings used to make or finance loans to certain states, political subdivisions, or tax-exempt organizations.
People & committees
Sen. Menendez, Robert [D-NJ] · D–NJ
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
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Source last updated: Aug 11, 2025. Consult Congress.gov for the current record.
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