To conform Federal tax law with the Texas Constitution to allow for the continued benefit to the fullest extent possible from the financial leverage of the Permanent University Fund to the State of Texas.

Bill: 118-hr-4610
Sponsor: full_name: Rep. Doggett, Lloyd [D-TX-37]
Introduced: 2023-07-13
Policy area: Taxation
Latest action: action_date: 2023-07-13
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2023-07-13
action_desc: Introduced in House
text: <p>This bill updates the effective date of the arbitrage rules for the Permanent University Fund of the state of Texas.</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 4610 IN THE HOUSE OF REPRESENTATIVES July 13, 2023 Mr. Doggett (for himself and Mr. McCaul ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To conform Federal tax law with the Texas Constitution to allow for the continued benefit to the fullest extent possible from the financial leverage of the Permanent University Fund to the State of Texas.

1. Change of date relating to amount benefitting from special arbitrage rule (a) In general Paragraph (4) of section 648 of the Tax Reform Act of 1984 ( Public Law 98–369 , 98 Stat. 494) is amended by striking October 9, 1969 and inserting March 1, 1985 . (b) Effective Date The amendment made by this section shall take effect on the date of enactment of this Act.