S. 4933 aims to amend the Internal Revenue Code of 1986 to clarify rules about tax-exempt entities holding stock in government-sponsored enterprises, like the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association. The bill specifies that the...
Simple Explanation
S. 4933 is changing some rules about tax-free organizations holding stocks in special companies like Fannie Mae. It says the United States government and its agencies don't count as tax-free in this case, and this change starts from 2008.