76th Congress > Senate > Vote 253
Sponsor: BROWN, Prentiss Marsh (D-MI)
Description: TO AMEND H.R. 10413 BY PREVENTING (1) ANY FURTHER ISSUE OF TAXEXEMPT BONDS BY THE FEDERAL OR STATE GOVERNMENTS; (2) PERMITTING FULL INCOME TAXATION, ON THE SAME BASIS AS OTHER BONDS ARE EAXED, BY ALL THE STATES OF THE UNION; (3) PERMITTING THE REFUNDING OF ANY PRESENT OUTSTANDING BONDS WHEN IT IS DESIRABLE FROM THE STANDPOINT OF THE MUNICIPALITY, THE STATE, OR THE BOND-ISSUING AUTHORITY TO DO SO IN ORDER TO GET A LOWER RATE OF INTEREST OR BETTER TERMS, PROVIDED THE MATURITY DATES OF THE BONDS ARE NOT EXTENDED BY THE NEW ISSUE.
Original source documents: Congressional Record vol. 86-11, p. 12304;
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