H.R. 1197: To waive the arbitrage rules for certain bonds issued in 1990 and partially defeased in 1996.

113th Congress · introduced 2013-03-14 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2013-03-14 · official record
Who proposed it: Rep. Ross, Dennis A. [R-FL-15] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To waive the arbitrage rules for certain bonds issued in 1990 and partially defeased in 1996.

Plain summary

Provides that bond arbitrage requirements shall not apply to an issue of bonds that were partially defeased (made void) if: (1) such bonds are redeemed by the governmental issuer within 90 days of the sale of the escrow securities, and (2) any net profit remaining after the proceeds of the sale of the escrow securities have been applied to such redemption is used by the issuer for an essential governmental function within 12 months of such redemption. Makes this waiver applicable to bonds issued on January 4, 1990, that were partially defeased on July 19, 1996, with revenues of a municipally-owned electric and water system.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To waive the arbitrage rules for certain bonds issued in 1990 and partially defeased in 1996.

Source: Congressional Research Service summary (Introduced in House)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Ross, Dennis A. [R-FL-15] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr1197.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr1197 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113