Notes on 48 U.S.C. § 1670 : US Code - Notes

Search Notes on 48 U.S.C. § 1670 : US Code - Notes

(Pub. L. 98-454, title II, Sec. 202, Oct. 5, 1984, 98 Stat. 1733;
Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 108-
326, Sec. 1(a), Oct. 16, 2004, 118 Stat. 1270.)
REFERENCES IN TEXT
Section 103, referred to in subsec. (a), which related to
interest on certain governmental obligations was amended generally
by Pub. L. 99-514, title XIII, Sec. 1301(a), Oct. 22, 1986, 100
Stat. 2602, and as so amended relates to interest on State and
local bonds. Section 103(b)(2), which prior to the general
amendment defined industrial development bond, relates to the
applicability of the interest exclusion to arbitrage bonds.
AMENDMENTS
2004 - Subsec. (b). Pub. L. 108-326 amended heading and text
generally, substituting provisions relating to exemption of all
bonds from income taxation by State and local governments for
provisions relating to exemption from taxation and definition of
State.
1986 - Subsecs. (a), (c). Pub. L. 99-514 substituted "Internal
Revenue Code of 1986" for "Internal Revenue Code of 1954", which
for purposes of codification was translated as "title 26" thus
requiring no change in text.
EFFECTIVE DATE OF 2004 AMENDMENT
Pub. L. 108-326, Sec. 2, Oct. 16, 2004, 118 Stat. 1270, provided
that: "This Act [amending this section] shall apply to obligations
issued after the date of the enactment of this Act [Oct. 16,
2004]."
(!1) See References in Text note below.