May 26, 2006

Texas Tax Exemption Extended by Congress

By PAUL FAIN

Federal tax legislation that was passed this month by the House of Representatives does not include an extension of the college-tuition deduction or other provisions of interest to higher education. However, the bill does include a measure to preserve the issuance of tax-free bonds by the University of Texas and Texas A&M University Systems.

For 70 years, the two public universities have issued bonds for construction and other campus improvements that are financed by income from

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